We are starting to see some positive data for our economy. After years of 0 growth, our old engine is starting to move again. Positive signals were out already during the cirsis period , but results did not came out. The best surprise, which no one seems to be interested in, is that of the decrease in the unemployment level. According to ISTAT (national statistics institute), the level is at 6.8%, much lower than that of Germany and France, and we are approaching that of UK. The highest improvement comes form the South, for one time capable of outperforming the Italian average. This fact starts to impact positively consumption data and retail sales, for one time, after many years, the engine of growth. Moreover, all the most respected economic institutes are starting to revise up the growth estimates for 2007. OECD, for example, is thinking to revise growth up for this year at +2.2% (prior estimate was +1.4%). These positive data, if they will be confirmed, make us optmist. The only problem remains the long term future: will be able to sustain this level of growth? Will we be alble to grow one more year above the growth potential? Remember that the potentail is determined by work force and labour productivity. However, these positive news remind us that if we work constantly to innovate our country, we can start to become dynamic, and a reference point for the European Union.
25 marzo 2007
La Situazione Dell' Economia - The Economic Situation
3 marzo 2007
I Sindacati - Labour Unions
The role of the labour unions in a modern economy should be that of giving voice to the workers and reduce the salary gap between workers, reducing the increasing inequality that we are seeing in these days. This role is certainly beneficial to the economy and to the society. However, in Italy we are seeing a "genetical mutation" of the unions. They do not care about salary and workers, but politics and old people, that form the majority of the unions. Does not exist any other developed country in which the union poses conditions to a government voted by Italians. The union should intervene to defend the workers and permit to our country and employment to grow. Our labour unions opposes everything called change, against the youth, the more hurt by the Italian crises. Sometimes I question myself: where are the unions when the youth is paid 800 euros per month? shouldn't they fight to eliminate those market imperfections instead of blocking every liberalization and innovation process? Every political and economic decision has to pass through the unions. My question is: who voted for them?