The last piece I posted stated that Spain is on the road to join Greece, well is Italy far behind with $2.6 trillion debt which is 118% of GDP? At the moment Italy's unemployment is running at 10.1% with unemployment among the young, at a shocking 36.2%. The unemployment figure is taken as those actively looking for work as a percentage of the working population. Adding to this the fact that the technocrat government has stated that it will shed 10% of public sector jobs. How many have given up trying to look for work when they know that there aren't any jobs and unemployment is rising. Like Spain and Greece, Italy is trying hard to appease the financial Mafia, It is cutting $67 billion from its budget and now there is to be a further €4.5 billion cut from public spending to try to avoid a further increase in VAT. There is an on going plan to cut public spending, in 2013 there is to be a further €10.5 billion, and in 2014 a further €11 billion. All that translates into cuts in services to the ordinary people, from schools, libraries,health care, etc.. To add to the people's woes, come September the VAT rises from 21% to 23%. How will this affect the ordinary people of Italy? Like Spain and Greece, they will see poverty and deprivation rise alarmingly, health problems associated with poverty will rocket. One of the ways the Italian unelected government is dealing with this, is closing 150 hospitals, while axing 80,000 hospital beds is under discussion. Another way that the technocratic unelected cabal in Italy are bowing to the financial Mafia is to sell of national assets, these will be sold to the friends of the financial Mafia at knock-down prices, they always are.
So with unemployment set to shoot up fast, VAT and prices on the increase, wage cuts/freezes the accepted norm, public services slashed, what you are looking at is the decimation of the social structure of a country, for no other reason than to appease our lords and masters, the financial Mafia. This is capitalism in turbo charge. Who is next to be raped by the financial Mafia?