Italian president Silvio Berlusconi has a, “total disregard for the economic condition of his country,” according to a new piece in the Economist. The paper tears into Silvio Berlusconi’s Italy and its poor economic performance.Here are the main takeways from that story:
- Only Zimbabwe and Haiti had lower GDP growth than Italy from 2001 to 2010.
- The female participation in the workforce is the lowest out of all the eurozone countries, at 46%.
- Productivity fell by 5% during the 2000’s in Italy. It rose by a fifth in the United States and by a tenth in the UK during the same time period.
- Mario Draghi, before he left for the ECB, blasted the Berlusconi government for “fail to encourage, and often hamper, [Italy’s] development.” Examples of that include a lack of competition in the country.
- Italy falls behind Mongolia and Belarus’ on the World Bank’s ‘Doing Business’ index, because of the tax code and corruption in Italy. That puts Italy in 80th place.
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