Recently the Italian government reversed the sale of an island off the coast of Sardinia to CBA chief information officer Michael Harte.
In November last year it was reported the Italian Parliament had passed a special dispensation to allow the government to re-purchase it, with a group of left-wing MPs worried it could be spoiled.
Harte has spoken about the decision. Here’s what he said, from the AFR’s Rear Window column:
“While we won’t be able to use the island for the marine biology research we have options on two neighbouring islands.
“The acquisition of the island by the state is hopefully a sign that they are serious about conservation – so a win.”
Harte always said he wanted to preserve Budelli, which was purchased for around $4.4 million. He had taken out a $3.56 million loan from his employer for the sale.
In any case, it came with strict conditions that prevented new structures being built.
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