Sunday, November 13, 2011

Bye-Bye Bunga Bunga



There goes Silvio Berlusconi off into the sunset (but might he return? Rumors abound).

Mario Monti will be Italy's new PM, and he will almost certainly appoint Guido Tabellini as the economics minister. Prof. Tabellini is known for his work on constitutions and political economy (notably: politicians do not always act with the best interests of their constituents in mind... Shocking). He was also the president of the European Economic Association. He seems to be the right man for the job, as both Monti and he are conservatively leaning (economically speaking). And, to be frank, conservatism is what Italy needs to show investors right now.

There's also a lot of chatter about the other government posts to be appointed. It is true that Italy's political system, in general, could do with a little tidying up, the debt worries should be at the forefront of Monti's mind. I'm pretty sure they are, since you could argue that the debt crisis is what finally did old Berlusconi in. However, perhaps because he thinks it best to move quickly, Monti is looking to replace a whole host of ministers (justice, cultural, etc..).

I say, leave that till later. Replace the ministers who are key in fixing the economy first. Obviously, it's not gonna get better over night, so I'm not saying wait till all the problems are solved. Just get the damn country away from the edge of the proverbial cliff. The political malpractice that led to this crisis is a REAL problem that needs to be dealt with right away. The rest of the political corruption was created to, frankly, keep Berlusconi from being a felon. Let's give him a few more bunga bunga parties...

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