Mario Monti the 69 year old Italian economist and current caretaker Prime Minister of Italy will run for the premiership as leader of a centrist alliance in the next Italian general election. In an article by Vito Laterza published on Aljazeera titled ‘Technocracy's new bet: Mario Monti runs for premiership’.Vito states “His entry into the political arena will provoke major re-alignments in strategies, programmes and personnel in the centre-right and centre-left coalitions. His ambitious agenda of reforms will strongly influence the policies of the next government. …The rationale of Monti's proposals is not so different from Cameron's austerity programme in the UK: free up the market, reduce the weight of government and let the economy adjust itself. But the prospects for the global economy, especially the eurozone, look grim. European economies will grow slowly, if at all, for many years to come. Italy has struggled with low growth rates for the last two decades. …There is also a major difference with Britain. Italian workers receive very low salaries compared to most of their European counterparts. Further liberalisation without a comparable rebalancing of social protection would effectively mean a low-cost economy driven by cheap labour, reduced quality and quantity of social services and rising socio-economic inequalities. For both these reasons, the continuation of the technocratic agenda by political means is unlikely to result in anything more than a face-lift. … keeping confidence in the Italian government artificially high and interest rates on Italian bonds low. But for how long? Monti is aware that his decision to enter frontline politics "carries many risks and a high probability of failure". If he does fail, how bad will the next collapse in international credibility hit Italy and its people?”  Inspired by Vito Laterza, Aljazeera ow.ly/gKkTU Image source Twitter ow.ly/gKlaQ Technocracy’s new bet runs for premiership (January 18 2013)

Mario Monti the 69 year old Italian economist and current caretaker Prime Minister of Italy will run for the premiership as leader of a centrist alliance in the next Italian general election. In an article by Vito Laterza published on Aljazeera titled ‘Technocracy’s new bet: Mario Monti runs for premiership’.Vito states “His entry into the political arena will provoke major re-alignments in strategies, programmes and personnel in the centre-right and centre-left coalitions. His ambitious agenda of reforms will strongly influence the policies of the next government. …The rationale of Monti’s proposals is not so different from Cameron’s austerity programme in the UK: free up the market, reduce the weight of government and let the economy adjust itself. But the prospects for the global economy, especially the eurozone, look grim. European economies will grow slowly, if at all, for many years to come. Italy has struggled with low growth rates for the last two decades. …There is also a major difference with Britain. Italian workers receive very low salaries compared to most of their European counterparts. Further liberalisation without a comparable rebalancing of social protection would effectively mean a low-cost economy driven by cheap labour, reduced quality and quantity of social services and rising socio-economic inequalities. For both these reasons, the continuation of the technocratic agenda by political means is unlikely to result in anything more than a face-lift. … keeping confidence in the Italian government artificially high and interest rates on Italian bonds low. But for how long? Monti is aware that his decision to enter frontline politics “carries many risks and a high probability of failure”. If he does fail, how bad will the next collapse in international credibility hit Italy and its people?”

 

Inspired by Vito Laterza, Aljazeera ow.ly/gKkTU Image source Twitter ow.ly/gKlaQ