Monday, 4 March 2013

While you were away....

Here's the big news that I missed during my absence: 'Italy ungovernable'. Other breaking news that I missed include: +++next pope likely to be a catholic+++bears prone to defecating in the woods+++earth probably not flat+++

Perhaps the only glimmer of hope is that Italians expressed a clear view about current economic policy. The writing on the wall in Italy is this:

It has to be said that the Italian people chose rather odd messengers to deliver the message. But nonetheless, the success of Berlusconi and Grillo who ran on an anti-austerity platform (together well over 50%) along with the clamorous defeat of Monti are a clear vote of non-confidence for a policy that does not work. I doubt that Grillo and Berlusconi have much to offer in terms of a long term political programme that gets Italy out of the crisis. But their success may be instrumental in liberating Europe from a misguided economic policy. 

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