The real sin of Silvio Berlusconi

From Financial Times May 27, 2009

(...) His first, short-lived government in 1994 achieved nothing. His five-year spell in power from 2001 to 2006 was notable mainly for its failure to introduce the liberalising reforms that Italy desperately needs to make itself competitive in the eurozone. Now, he is presiding over a slump that the International Monetary Fund thinks may make Italy the only eurozone country to experience three consecutive years of recession from 2008 to 2010.

Worst of all, Italy’s public debt is set to soar to 116 per cent of gross domestic product by 2010, according to the European Commission. In other words, Italy will be back where it was in the late 1990s.

Noemi or no Noemi, this is Berlusconi’s real sin.