Home Economy Berlusconi gone, now what?

Berlusconi gone, now what?

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Now that Italy’s longest-serving prime minister since the second world war has finally resigned amid angry crowds, as the

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Berlusconi gone, now what?

BBC reports, shouting “baffoon,” what happens now to the country that all of Europe is worried about? It’s been suggested that “President Giorgio Napolitano is likely to appoint technocrat Mario Monti as his successor,” a man who is a “respected economist” and it is believed will help reassure the international markets. But, is it enough?

Berlusconi has agreed to leave once the new austerity measures are put in place, although one has to wonder if it wouldn’t serve Europe better if he left sooner. It’s well known that there is no time to waste as the Italian government bonds have recently reached the same interest rate level that caused Greece, Portugal et al to seek an EU bailout. The merits (if they can be found) of Berlusconi‘s leadership have left a bitter taste and an acutely ailing nation wondering, like everyone else, whether the proposed austerity measures are enough. An increased VAT, extended age for retirement, and public sector pay freezes are just some of the proposed features that are being implemented; but with a growth rate of less than 1% per year, over the last fifteen years, slashing expenditures may not prove ample to stem the overall feeling that a rescue package is inevitable. Growth, for Italy and the rest of the in-trouble eurozone countries, has to run in tandem with these necessary cuts. But for now, the Italians are busy waving goodbye to the man that put the term “Bunga Bunga parties” on everyone’s lips. Can it get any worse?[/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

 
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William R. Feins , freelance journalist from London, UK; he received his B.A. degree in Economics and his Masters in Sociology. William has always been interested in the mechanics of business and the inspiration of original thinkers, and firmly believes that the former can’t succeed without the latter. In his spare time, he enjoys the ridiculous spectacle of watching table tennis on a big screen (preferably at a pub) and reading weighty tomes about World War II.

15 COMMENTS

  1. berlusconi doesnt contributo fro italy, but his business only. he has bad reputation. i think his resign from prime minister post is a very good news

     
  2. Italy needs a new breed of leaders. His coming down will give way for a new policy and possible economic growth. Imao Italy will not suffer as much as of today if Berlusconi had stepped down a decade ago.

     
  3. I think it is a good thing that Berlusconi resigned as the Prime Minister. Serving for the country for a long period of time, it’s a good change for the country. I just hope that the new Prime Minister will do a better job, and can surpass what Berlusconi has done for the country.

     
  4. Crisis is experienced over all countries of Europe . I hope with Italy’s new prime minister will be of help to uplift the countries economy. No matter who the leader of the country is , as long as he is not corrupt or is able to manage crisis, the country will be able to survive.

     
  5. All the things had gone fussy and need to make in order. Correct direction must be choosen.
    President Giorgio Napolitano decision to appoint Mario Monti as his successor is interesting one!
    I hope need to cook the plan well and President Giorgio Napolitano is rightly doing so.

     
  6. Berlusconi became PM for many years and have a good experience with it, hope the new PM will be good and get guidance from Berlusconi. Every person needs rest, now it is time for Berlusconi

     
  7. The people of Italy have needed this change for a long time now. It is about time he did the best thing for the country and resigned. I think appointing a respected economist is exactly the change the country needs.

     
  8. I believe when one stays in power for so long, people will always have the tendency to remember the bad things rather than the good. This is why I believe that berlusconi has somehow done good to his country in one way or another. However, his separation from power is also a positive event since it will open up new opportunities for new governance. I honestly trust his judgment as he has apponited someone credible and with a competent reputation to take his place.

     
  9. I can’t understand how it was possible to a man like Berlusconi stay so many years as PM… I mean, his parties were public (photos on newspapers, magazines, etc), his curruption was obvious, his connections with the Mafia were known, he owns one of the top fortunes in Italy, he owns companies and even the football club AC Milan. How can a man like him run a country without messing it all up? Now we can see the result.

     
  10. His resignation does not erase his presence from the political stage. He still has a powerful political party, now fighting for its future, and owns Italy’s largest private broadcaster. But it marks the symbolic end of an era in which the media baron held the country under his spell.

     
  11. When the economic crisis and the natural calamities hit a nation it is not easy to govern the nation. Berlusconi has contributed positively and the economic crisis does not depend upon himself alone.. But Berlusconi has not assured the nation on certain sound moral values.

     
  12. After serving 17years as a dominant figure eventually had to resign because of his involvement in corruption and ongoing debt crisis after the country’s bond drop and the stock reduced to the lowest,it is a good news that a new government will mark a fresh start for Italy…….

     
  13. I think that its good that Berlusconi resigned after so many years. He has been Prime minister for an extremely long time and did not do much to help the economic situation. I think Italy has a better chance financially now as long as they get a new more trust worthy Prime Minister.

     
  14. I personally think its a good decision Berlusconi has done.He has contributed a lot and did a good job while in position.But of course its better if there will be other ideas from other personality.Who knows changing makes it better.

     
  15. After working for the country and people so many years, he can live in retirement now. Anyway, it is good for him. As to Itailians, they have a new prime minster, and who know he couldn’t do better?

     

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