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  • Italian Quagmire: Austerity and A Potential Strike

    To be quite honest, I don’t know anything that might be more catastrophic, because if the union strikes – that will be less money in the economy and less revenue for the government, which might also hurt union members, because if the strike is lengthy – consumer demand might be negatively adjusted, so there will be far less jobs to go back to, when the strike, if indeed there is one, is over.

    The Italian debt nightmare has created tremors within and outside of Italy. Premier Silvio Berlusconi has enacted measures, which look to triage the crisis, yet it will be hard for many Italians to swallow, and now the largest union in Italy ( CGIL) is contemplating a strike as their response, to what they see an inherently unfair package.

    To be quite honest, I don’t know anything that might be more catastrophic for the Italian economy, because if the union strikes – that will be less money in the economy and less revenue for the government, which might also hurt union members, because if the strike is lengthy – consumer demand might be negatively adjusted, so there will be far less jobs to go back to, when the strike, if indeed there is one, is over.

    Yet many proponents of labor say that the austerity package ravishes the middle-class and does not address tax evasion by the wealthy.

    Italy should find something in the middle, where everyone sacrifices – but the leaders, are those, who should sacrifice most and first. Italy has to do something fast – something valuable quickly, because they are causing extreme concern within European markets, due to their bad debt exposure in their banks.

    Good luck.

    Calvin Wilson
    Founder and CEO
    Upstart: Business and Management for 20-40 Year Old Professionals
    calvin.wilson1@verizon.net
    http://twitter.com/Upstart__Nation

    Filed Under: Global Business

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