I expect I will be accused of racism (by some muppet) if I write about the Italian elections, but as Ferrari boss Luca Montezemolo was considering a political career based on the outcome of these elections, it is worth reporting what happened. The electorate failed to produce a clear-cut result, by voting in sufficient numbers for the disgraced former Prime Minister Silvio Berlusconi. On top of this, a whopping 25.5 percent of the vote went to Beppe Grillo, a former comedian, who was standing on an anti-establishment ticket. The favourite left of centre alliance of Pier Luigi Bersani won the election, with 29.5 percent of the votes, but he must now try to find an alliance with Berlusconi (who won 29.1 percent). The problem is that Bersani blamed Berlusconi for Italy’s dire financial situation and cannot seriously go into an alliance with him, without adding to the anti-establishment vote. His only real choice is to strike a deal with the comedian Beppe Grillo, which is verging on the absurd. The option is more elections, but the parties all seem to want to avoid that, either because they fear losing their support or because uncertainty will only add to the country’s troubles. Whichever way you look at it, the election was a rejection of the policies of Prime Minister Mario Monti, who had the support of the international community with his austerity measures, which were deemed necessary to keep Italy – and the Euro – balanced. Monti’s group of centrist groups, which included Montezemolo’s supporters, polled just 10.5 percent of the vote and Montezemolo has played no part in the wheeling and dealing since the vote.
I’m inclined to believe that Signor di Montezemolo would be a good leader – in the sense of “good manager” perhaps.
Unfortunately it seems that he will be stymied by Euro (the currency) realities. It has been obvious for a long time that a one-size-fits-all currency with tight fiscal regulation cannot work in Europe – at present it seems only to benefit Germany; the political chaos in Italy is to me merely further confirmation.
That’s nonsense. There is always political chaos in Italy. They have had nearly 70 governments since WW2. Nothing to do with the Euro.
While political chaos may not be rare there, their problem these days is very much the Euro. They gave up sovereign currency and now have their hands tied by those who care about things other than the well being of Italy. What they need to do is precisely what having a non-Italian currency prevents them from doing. Whoever they elect can’t fix that.
Italy, Greece, et al, now find themselves with the same degree of monetary/fiscal self-determination as do Michigan and Arizona. (Regardless of how silly we Americans can be, at least we don’t pretend Michigan and Arizona are independent nations.)
Absolutely agree. This is the worrying aspect of the developments. I must say that I was amazed by the number of people who voted for Berlusconi, but that is democracy I guess.
I was always surprised he was in power for so long in the first place considering all the scandals and legal issues.
The amazing thing is how much Bunga Boy was feted by, primus inter pupae, The Economist magazine. (forgive my inept stab at the Latin for muppet, muppet is a word that needs more currency) He was genuinely thought of as a breath of fresh air. Someone who would bring commercial sensibility to a hysterical parliament and economy.
To be honest, in the end, Berlusconi’s value seems mainly to be entertainment. I’m sorry to say a pal of mine and I get a laugh out of just how much of a [expletive] he gives. But we have a theory whereby we allow ourselves the guffaws, that maybe, just maybe, you know in the was a certain Benetton team manager may be cool, actually did want to be sensible, but got snowed under all the nonsense and mentally broke down and decided the only way to cope in his job is to take the mick out of everyone. But then we share a sick sense of humor when it comes to bad behavior, my pal having been all too good at shifting sponsorship in sports (not F1) before he decided there was a, erm, healthier lifestyle. (I can’t vouch for how it is now, this was nearly 20 years ago, but my pal was working on usually big name events, and the antics up close were every bit as repulsive as Bunga parties).
Lately, the east end of London where I live has rung to the sound of Italian voices, no doubt a great deal of them, judging by their consistent youth, looking for work. Sad to say a issue in some cases, it’s not legal nor safe to pack 8 people to the modest little apartments in our building. I’m far from complaining about the people, it’s really nice to have a wave of different culture wash across your neighborhood. But I can only reason economically. A young photographer I got to know, really good one, Davide, found his accommodation in our building advertised at a weekly basis. Which is breach of lease and illegal because you are supposed to have hotel safety level standards, and that’s not possible here, big issues about that, met wit the local fire chief over how unsafe this is. Extremely nice to make this man’s acquaintance,
though, and to gain a insight into how tough it is there in Italy. Photography is a super hard game, really just a vertical cliff, in London, but he fancied his chances here better than at home.
Might even have been the year before last, but around a year ago, I linked a New York Times article, about a young lady, 25 or so, masters in law, two degrees, studying for a doctorate, and no job after untold tries. I said at the time I wish I was geared up to hire, because the talent pool is unbelievable. But young people need experience and practical exposure to work. I’m teaching a “young man” – he’s only 10 years my junior, who is still in a state of shock that he is capable of learning what he was told he couldn’t manage. But then he’s streetwise smart in actual business, and maybe one of the lucky ones. Nevertheless, I seethe at how education s stems are so messed up. A girlfriend’s brother stayed in education in Germany until 36 by which time he had married and had a daughter. What the . . ? And my charge was told he had no hope at University, but can lap up hard core lecture videos I’m feeding him (SICP, the MIT intro to computing course) allowing he can be nudged in the right ways and admittedly I am glossing a lot of the math, but conceptually, there’s the fundamental comprehension to build on. I’m going to have to buy a whiteboard . . .
I’m in between the generation facing the brunt of things now, and the generation who I think have been appallingly negligent in far too many ways. Because usually you skip a generation, up the age ladder, to your teachers, I – possibly very luckily – was not taught by baby boomers.
This is relevant to Silvio Berlusconi, because he was heralded as a businessman to sort ot the mess of the Italian economy. But the people who wee exalting that idea, were about -to my estimation – of the same generation who were simultaneously undermining the fundamental concept of business, which in my not very humble opinion is to provide work for people so they can eat and live healthily, by mismanaging the entire educational system in ways that led to this bipolar nonsense of some staying in education too long, and others given their marching orders. You know what? May be only a sample of one, but experiencing this daily, I cannot ignore the possibility: young people really enjoy any opportunity to engage with the world of commerce ad to open their minds, and because my young protege has been about in the real world, his mind is more flexible than I think mine was at his age, because in effect I was despite my protestation I had to be a “generalist” (yeah, within a highly narrow field!) and that someone who has made their own way in the world, even if institutionally dissuaded of their abilities, one they see a possibility, can be so much more confident.
This idea particularly of the 1990s, that business is where it’s at, coming fast on the heels of the 80s’ economic dystopia, that business can fix everything, looks increasingly like it really was a “one percenter” land grab via myth.
In that sense, Berusconi is a totem of the hallucination, not a figment of imagination unfortunately, but rather a giant peyote. The ultimate phallus of popular fallacy.
J(oJ), am curious about your opinions regarding this: https://www.youtube.com/watch?v=ba8XdDqZ-Jg
It’s quite long but I think useful for punching hole in things…
Whoa there, RShack, that’s two hours of viewing!
No probs, though . .
If Joe will be so kind as to leave the comments open a bit, I’m rolling that tape now, on a quiet Sunday moaning, so a good time to absorb and think and reply.
If I don’t get back to you, I think Rpaco might be generous enough to be the go to go between if you want to take this off line.
I remember a still young Bill Gates quote, moaning that people do not communicate at a high enough bandwidth, which I think was taken as a stupid nerd comment by who reported it, but it isn’t. I wrote once – and it is no insight – that I think a aspect of communication is including error checking, that you can use higher “bandwidth” in speech (easier in speech, I think) to encompass more information to better explain, clarify, offer aspects and angles, even whilst a core message is coming across almost in Baudot. Another angle is largely I trade in English, as it’s predominant in business, but if I increase the breadth of the use of my language, rather than conceptually complicate, because it is easier for a non native speaker to understand, y interlocutor may not understand one idiom, or one explanation, but they can mentally pick and choose what they are translating, and one understanding informs the other, multiplying the possibility my point will be received. By including metaphor and simile and increasing the contextual information, tonality, emphasis, sometimes even anecdote, I find that by providing that “extra bandwidth” I am not slowing my communication of a pitch, but reducing error.
You can use this two ways, to increase the clarity description, or the complexity of description of what you mean. So I am using this “bandwidth” for error correction when the error rate is high, and for increased data when the error rate is low. When I’ve had girlfriends where we are poor at each others’ language, often I have been complimented I speak a very intelligible English, and at least one GF’s spoken English improved so remarkably so quickly, it was dramatic. I started thinking about this again lately, though it was a sometimes a effect more marked in my company. At least it was a improvement, as I can never forget a first date with a German girl, and I have serious hangups with German, which at best is Bistro Capable by default, though my comprehension is considerably better, and was told, “John, your English is not Foreigner Friendly”! ~ well I was trying to communicate too much information, rather liking the girl, and as a young man, a bit anxious ..
Why all this? Because I am forever frustrated by lecturer style. Until I noticed that what I was paying attention to was mostly American professors and lecturers (I’m very annoyed our lot to not try enough to get out there on the internet, and they may be out there, but if they are, total marketing fail) I thought it was a cultural thing. USians do by my view belabour their communication. My LP drives me almost nuts because he thinks repetition is essential to convey, and though that’s very good, he does not spot that when there’s no deal at the other end of the line, saying something in a hundred ways does not have any effect. However the style (I am listening for a first run to the video you link, I like to get the gist first take, then go over top to bottom) the second speaker, lady with the beige suit jacket, opens with I may have not counted properly, about 6 similes to set up her talk. My criticism, is that one should be slow when the data significance is high, and speak more quickly when you are communicating to overcome error rate in transmission. You need that handshake to establish at what level you are speaking.
Here’s a link to a discussion of a graphic of a modem negotiating how to go ahead:
http://news.ycombinator.com/item?id=5140135
Suddenly I wish I had the time to sit somewhere with clean air, greenery and a copy of Shannon’s papers, some Minsky and Knuth to hand . .
I should do, because I am starting to re-write my folder of guidance papers on how to sell.
The argument I have with repetition, over use of simile, is that the argument does not move fast enough to get to the punch line. Without the punch line, you don’t know is there’s a joke. Or a point to the argument. I find repetition used too often to mask a lack of insight or deliverable insight. I’ll say that again . . .
For a first run, listening to this lecture, and just happens to be the lady in the beige suit top just now, I am struggling to understand what her point is, she seems to be talking around the subject. I mean right this second she is referring as a kind of conclusion to a slide, and even saying the “picture is worth a thousand words” line. That’s to my view a prop to deflect from lack of information delivery.
My job, or a crucial part of it, is to work out how to convey a pitch for sale of a subtle or complicated product within max 40 seconds of gaining the ear of a potential customer. Otherwise what I am selling all too easily costs less than the executive potential customers’ time. (Just do the math on big company board remuneration) I do not know why, and recently have been working on this a lot, why my speech can be so much more concise, but bandwidth is simply greater in speech, and greater again in person. So to convey complexity, the written word is often poor.
But there is a human instinct, to conflate arguments so that one presents not a single image of a insight or position, but a loosely interlinked set of variations roughly on the same theme without providing the formal or effective intellectual connective tissue. I think of it like the way when you point out to someone, “Oh, look, see that new kind of car!” and suddenly they see so many of that same car, because they just trained their mind to notice that kind of car, it having become artificially remarkable. This is, I am sad to say, how far too many so called academics lecture. They may alert students to the existence of the latest Lexus, but frankly they provide no deeper understanding either of the observed phenomenon, nor of the argument they mean to describe. All too often, I believe they have not got a argument to describe.
Anyhow, I am typing this whilst just under a hour into listening to the linked lecture, so early days, just so far – and I allow I am typing and that is distraction – I don’t get any coherency from this lecture.
As I understand it, the Japanese writing tradition is to put your argument’s conclusions right at the top of the paper, and though I do not read any Japanese, I think more of import could be done with that style of up front presentation.
will return, with actual thoughts on the subject, I promise to make quick!
Sorry to say it, but unless I have been extremely inattentive, I found nothing of value in that lecture. I felt as if the elemental was being expounded as novel insight, and I recognised more salesman / toastmaster tricks in the delivery than content. Admittedly I did not complete more than a very partial second listening.
My recompense offering is to suggest When Money Dies by Rob Wolf, which I think can be found legally and freely as a PDF, or anything by Hyman Minsky. (Minsky can be truly dense reading, though, hence why he only lately has been figured out) Especially Wolf’s book, for a realistically scary view of the poverty of all kinds fiscal instability deals to society. Somewhat lighter reading, would be David Marsh, though his history of the Bundesbank is out of print, and that was a truly good read, one of those that opened my mind properly to the subject, he’s decidedly good on framing general political histories around banking. So that’s social, technical and political covered in three authors. There may be better choice of triplets, but those come to mind as really worth your time.
Habit to donate or give away all but valuable editions is causing me to at least revisit my reading lists (I kept notebooks because at the time and studying on my own, I figured I might want to read again with more mature mind, wish I was as neat and tidy still. . ) but though I almost devoured a library (City Of London libraries will actually buy in books for you on request, if not in circulation, a amazing service) not many names stand out. Catch is, have to find the notebooks, going on flaky memory! Robert Sobel stands out as another name. I’ll mention more as they come back to me, as and when the context arises. One I am trying to recall just now is a history of Hope Brothers and Baring, the alliance of two banks who had incredible influence on modern European history. Sadly my searches fail me just now, but will likely find it in catalogue. Lombard Street by Bagehot, he for whom a column is named in The Economist is too often ignored. Recently, Chernow’s bio of Alexander Hamilton is a superb work, and insight into the economic beginnings of the United States which had me spellbound, and most definitely felt like a real education.
all best,
~ j
When you make the laws…
You are totally correct. A good example of self determination is Iceland and their response to financial crisis; they had the ability to act in their own best interests and did.
This is why F1 and politics don’t mix. However…. I’d like to remind RShack that the US was primarily responsible for the world’s economic mess circa 2007/ 2008 pushing not only the UK but Europe and the world to the point of economic collapse. Thank you for that. Greece was responsible for Greece’s problems, not the Euro and the same goes for Italy. Without the support of Europe how do you think Italy would fare? Yes, let’s bring back the Lira – the currency speculators would love that. The UK is now facing negative interest rates, everything else having failed to boost the economy – yep, being outside the Euro has really helped us.
Please don’t lecture us Europeans about fiscal policy – at least we have a health and welfare system that is fair to all not just the rich. We’ll get by thanks.
Now back to F1……..
I remember when the Euro was first in track to really be introduced, and my BP and I wondering how we could selectively short currencies regardless. Then I came across the early smattering of books on credit derivatives. So that was the mechanism . . only because of the setup, credit derivatives ever traded at any notable spread. In their infancy, they were not the vast market they became, and whilst you could trade the underlying currency still, they were nothing but leverage on the underlying convergence trade. Then when the rates set, they became insurance on corporate debt, and the market expanded. But obviously there was always hypothetical currency risk, so that could be sold for old rope. Gross simplification of how things developed, but with the currencies fixed, you could sling credit trades with currency risk about with impunity. Until it reached a enormous volume. That volume grew and grew, until people got to be uneasy, then by the nature of the leverage, multiplied by rehypothecation, if anyone needed to unwind a trade, they were in a pinch to do so, there being too little underlying collateral. This is only one part of the story of the shock of 2008, but what it meant was there were enormous amounts of highly eared instruments that reflected currency risk in the form inevitably of everything from government debt to companies with highly correlated exposure to individual countries. Selling the risk had been cheap, buying protection cheap, because of the linked currencies. But it was not Americans doing all of this, it was the corporate treasurers, the brokers who worked to fanny the Euro pact criteria on budget deficits for the politicians, and even the central banks. Maybe it was American bulge bracket firms making the majority of the business, but European firms, elected officials, and our own banks were kept very busy at this lark. There ae other accusations I might point at the big American banks, but I’d not hang this one exclusively on them.
Sure – not exclusively. It’s a complex situation but there’s been a lot of infallible hindsight. RShack blaming Italy’s woes on the Euro alone is just obviously incorrect. I blame Joe in bringing it up in the first place!
Great to see Mark Webber leading the way today wasn’t it……?
I never meant to imply that Italy’s woes are due to any single thing… we might identify any number of things. Sorry for not being clear about that.
Nonetheless, the Euro is indeed their current problem for the simple reason that it ties their hands about fixing things. There may be several reasons why they are in a mess (the Euro being one of them), but the Euro is what prevents them from getting out of it.
For example, a couple decades ago, their fiscal situation was comparable to today… but it was not a crisis because they were in control of their currency and therefore could cope with it. With the Euro, they can’t. Instead, measures are imposed upon them from outside which make things worse, not better.
Europe can be a nation of states (ala the US)… or not. Not saying they should or shouldn’t, that’s up to them. But Europe can’t be a pseudo-nation composed of pseudo-states, which is what they seem to be trying to do.
RShack, I hope you can proxy around to get this feed, but this comedy series, about the beginnings of the current EU regime, was quite significant at the time, I believe was part of shaping British Euro Scepticism:
http://www.channel4.com/programmes/the-gravy-train/4od
This can be found to download, and is the successor to the above:
http://en.wikipedia.org/wiki/The_New_Statesman
then we got the 90s, and this:
http://www.channel4.com/programmes/drop-the-dead-donkey/4od
I highly recommend taking even a naughty download of any of those, as they to my mind encapsulate a era of politics. I am presuming you know about Yes Minister, but that was about the 70s, or rather it reflected the 70s trying to become the 80s.
Amazingly, one time, we had television that tried to do something. Drop The Dead Donkey, at least the first two series (and we do short seasons by habit this side of the pond, so you could watch the lot in a evening) when I reviewed it, struck me as prescient to much later developments. We don’t really do political or talk shows well, try this for form:
Olly Reed there, but to be fair to his talent, tis is what turns up when you google “Oliver Reed sober”:
and if you bother with nothing else, that’s how a actor pulls his socks up I reckon in anybody’s book.
So we do comedy, instead.
I don’t know if it is cultural reticence to speak up, or (as above) the need of booze to loosen our lips, or because to be honest I don’t think as a nation we can debate, resting on our laurels, the Empire made us all think we didn’t have to bother with so base a habit as argument, and for much of a age making it unlikely we’d dare pipe up anyhow.
Any of the above I reckon are potential keys to British thinking considering the age of who is in power presently. Hope you can get a look see, and enjoy.
Love the Oliver Reed.
Steve,
well RShack did not to my view single out the Euro as a reason for the mess, that’s not consistent with what he’s written, but when you think what a gravy train it would be, say to make every individual household’s credit rating equal,and how lucrative that would be to the unscrupulous, and how unhelpful and ultimately devastating to the thrifty, the Euro has a massive impact, enabling the spendthrift to hide behind the rhetoric of the very real post war fear that led to efforts to integrate our economies.
I am not actually against either economic or even political integration, because historically much of civilisation has been born of vast empires, but when you take a concept like that, and the participants who agree to it all have their own view of what it means, well . .
I mean that we gave to every delinquent state and muni, the possibility to invoke the economic equivalent of Godwin’s Law, in reverse.
“You can’t cut us off from free money, or the NAZI’s will come back!”
Never attribute to malice what greed may explain.
I think you’ll find that there are multiple fathers to this abortion. I happen to have had a lot of dealings with Bank of Scotland/Lloyds. If you think Uncle “Good Times” VJ is loose with his money, then you’ve never met a relationship banker from BOS. In my field, they were the lender of first and last resort. It was well known that whatever finance offer you got in the market, they would beat it both in terms of rates and LVR. All in the name of growing market share. Well the British taxpayers are now dealing with the result of supposed world class British financial expertise.
Steve Deakin…
Wasn’t lecturing anybody, Paco, just making a reality-based observation.
Rather than spout nonsense, do your homework. Your point of view reminds me of the one held by those of us silly Americans who let the corporatists take over and screw things up for everybody. (This part is lecturing, I admit it
)
Doesn’t matter much what nationality they are, it’s the things they do that matter. Here’s what they do: they put their own large-sale piggishness in front, while behaving as if the responsibilities of both citizenship and humanity are somebody else’s job… all the while counting on the ignorant to let them do it.
The sad thing is that we know how to make capitalism work right, we just don’t do it.
RShack – interesting and revealing response. What a load of tosh. Firstly, my name isn’t Paco (whatever that means – probably ‘sunshine’ in English) and I don’t think I’m the only one spouting ‘nonsense’ from what I can gather reading comments so far (nice comment to make on someone’s differing opinion, but never mind). Mental note: must do my homework next time! I wonder why “silly Americans” have such a bad image abroad?
None of us are economists or politicians (thank God), so don’t pretend you have all the answers.
Anyway RShack, hope you feel better for venting all that now – ‘sunshine’?
Well, in fairness, I agree with you that my post which you are responding to here was neither useful nor appropriate. Sorry for letting my frustration leak (spew?). Please forgive.
Now, in my meager defense, I was dissing just a single individual and not an entire nation
On a more constructive note, perhaps you can explain how any nation that is not in control of its currency can possibly resolve debt/GDP issues. If you control your own currency, such issues can be readily managed as has been done many times by many nations. But if you are responsible for your own debt/GDP issues without having your own currency (i.e., you’re just a user of somebody else’s currency), then you are at the mercy of some combination of politicians from elsewhere and bankers (a lovely combination) and thus are not in control of your own fate.
If you think this is not true, please explain how it is not true.
Truce. All I would say (finally!) is that the UK has been at the mercy of said bankers and politicians from elsewhere for years, pre and post Euro, and where have got? Back to square one. Using one instrument, ie a currency, hasn’t worked. I loved it when I got more Francs or Euros for my pound, hated it when I didn’t. In the meantime, the UK will be paying back it’s enormous debt for years. Don’t run away with the idea I’m necessary in love with the Euro but I’m a realist – and I love travelling around Europe using the same currency. Selfish eh?
Back to F1 now…..?
Historically no, you are quite correct, but this time it is.
OXO – totally agree. See my comment somewhere below.
Unless you call them clowns, as the german muppet did, no one can call you racist ^_^ Well actually Luca was smartest than we might have thought . Any official role he could have played, he wouldn’t be elected .Many protagonists of the so called second republic, just went back home and their parties disappeared . Ferrari president just will endorse any deal which can bring benefit to our commerce, but it’s gonna be a tough one
Do you think its safe to say that the expecting of such a result, or not all that different, might have been of influence on Montezemelo deciding not to stand for election himself this time?
Racist
Love from Miss Piggy
;@)
Very droll
Another typo – ‘d’ should be ‘t’
- You did it! You saved the Pig and Frog!
– Well, it was too late to save the movie!
Oh Joe…politically speaking you are right, Berlusconi is a joke as is Grillo in my opinion. However, when you write about politics in Italy please try to be more kind with our situation as many people are as depressed as they can be for our future….
I can understand why.
That´s it in a nutshell (pun intended). As one who lives here (Umbria), I compliment you on the concise analysis. It would´ve taken RAI hours to come up with that. Shame that Renzo didn´t beat Bersani in the PD primary. That would´ve been interesting, possibly a victory, as I believe it would´ve diverted quite a bit of the 5 Stelle vote (Grillo) to a sound and promising young candidate. I agree that Luca would make a great manager, which is what Italy obviously needs, but that development would´ve taken a near-miracle that is no doubt too late now. He would´ve had to pre-empt Berlusconi with the tax- rebate promise to win the support of a tax weary crowd and present a coherent plan to jump-start this bogged down economy.
Joe You are perhaps being a little unkind to the Italian electorate that are sending a clear message to the European leaders whom I’m sure will get it 180 degrees and interpret it as the “Italians are telling us we need to speed up our reforms and they want more Europe”
Italy in common with Greece and Ireland have suffered a bloodless coup d’état and are being ruled by unelected apparatchiks. Bersani has blown an open goal because he is embroiled in a banking scandal with the head of the European Central Bank Mario Draghi also implicated as he was the head of the Italian Central Bank when the dodgy deals went down. This bank has been bailed out 3 times now, and makes RBS look like a well-run bank. The Prime Minister Mario Monti is also part of the mire Italy is in as he was part of the Goldman Sachs crew that helped fool the Europeans about Italy’s fitness to enter the Euro.
So the 2 messages I see being delivered are; we don’t much care for you interfering in Italian democracy, and the measures you have thrust on us are not working, inappropriate for Italy and therefore a joke, so we will vote for a joker (who as one taxi driver who was interviewed said “couldn’t be worse”).
So Joe I have the utmost regards for what the Italians have done and perhaps they have shown more courage than many others have done in making a bold statement against the crushing oppression of the EU and the Euro in particular. Whatever happens now any thoughts that Merkel will get her fiscal compact any time soon are up in smoke.
All of this may be true, but who is going to rule the country?
We have plenty of room in the traditional Italian place, under London Bridge, for more bankers!
Since the demise of Screaming Lord Sutch we have no one daft enough to represent the true feelings of most of us in the UK about the EU, we joined the common market, the EEC not the EU and most of us would like to have our country back.
Still as long as Italians keep making fantastic wine and food and Inspector Montalbano, they will be ok. We know that most businesses just ignore the government anyway, so it makes little difference who is in power.
I think in another life you were a Blackfriar, Rpaco, and are casually looking around, whistling to say “Not in my back arch” . . .
Very pleased to say that the screaming Sutch was a time to time after hours visitor to my now friend but then boss’s office. 6pm on the nose, he would close the door and open a Johnny Walker, and it was astonishing the characters who would drop by. To be honest, it was a terrible job, business on last legs, run to the ground, really, but I stuck about because I had a real reason to shut my gob (save for tippling) and sit back every evening. Seems unbelievable now . . me shutting my gob, not Screaming Lord Sutch turning up where I worked .. That and I was left to do what I pleased how I pleased so long as it resulted in something useful. I worked for barely enough to feed myself until practicality set in. I can’t say happy days, not of the time, it’s tough being practically still a child trying to help out a very experienced and yet brilliant businessman who is on the decline, you don’t know what to do, but you really try and try, and fail and fail . . but what you learn from larger than life characters is rare enough to savor in retrospect. I remember he was on the call list (they had clearly not checked their database there was no longer a big group PLC dancing along) of Price Waterhouse, and they were on a pitch. I was passed the receiver with, “Here’s my Finance Director, he’ll be able to help you. . .”
By the way Luca Montezemolo would be a good leader for Italy, but whilst they are in The EU and Euro in particula he would be just as much a puppet as was/is Berlusconi.
Mamamia!!! unlike the Italians to be undecided. Just like Ferrari they will get some foreigners in to sort out everything, probably after 21 years
You racist!
Joe ;
1) I am fully one half Italian .. still have family there and in Lugano : so relax … your commentary on the Italian elections is anything but racist and in fact if it were my site I’d of been ten times harsher and a heck of a lot more blunt . Suffice it to say Italian politics are a mess . Have been for decades – and only seem to get worse ( and more of a characterization of politics ) by the year
2) Those elections may have profound effects on Motor Sport as well as the automotive industry … so you’re reporting here is completely relevant
3) As far as considering Montezemolo in Italian politics … much as I may admire the man … as things stand he wouldn’t last a minute . Not being ‘ connected ‘ and all
4) If …. god forbid Berlusconi should regain even a modicum of power .. you’ll be watching the Italian economy crash in a way not seen since post WWII
5) Finally ….. there’s major controversy afoot with the House of Agnelli ( FIAT SpA ) which will have profound effects on all of FIAT’s holdings ( including Ferrari ) if all the accusations come to pass : that the results of this election will no doubt affect
Here in oz, we have a saying – we deserve the politicians we get. Maybe that’s also the case in Italy. Maybe more so.
And here in the States; it’s getting embarrassing. I apologize to the rest of the world.
Partially correct when it come to Italy . Truth be known though its the overall apathy Italians as a whole have towards politics . The general consensus in Italy being ; All politicians are corrupt – We already ruled the world once and are still have a profound influence on it – The last round of trying to regain that rule ( fascism ) blew up in our faces – So why should we care ?
Hence Italy having had a lady of the evening/porn star in power and now possibly a comedian as well . Not that we in the US can talk : having elected a bad actor ( RR ) and an American Idiot ( GWB ) .
Its too bad… I was hoping Monte’s bunch would do well, so he would leave F1!
well i guess some other democracies have made strange choices as well… but no it’s not racism, i would though say it is based on a lack of information, esp re Grillo. The headline impression is that he is an anarchic, demagogic comedian – then when you start listening to the 150+ individuals who were actually voted into parliament you get a very different impression. Sane, sensible individuals from all walks of life who want to do things that are seriously needed – e.g. 70,000 (seventy thousand) chauffered govt cars (>1 billion euro cost per annum) sounds like too many (about 300 in the UK). €15,000 PER MONTH for a regional councillor seems like too much. In fact the experiment is working well in the important regional council of Sicily where Grillinis were the biggest party there as well. Their first action was to cut their own salaries to €2,500 per month, which seems pretty reasonable.
It’s a pity Grillo did not get absolute majority – to have achieved what he has done (biggest single party) with no newspapers / TV / billions of € is quite something.
He may be a comedian but he is no clown.
Joe – in previous blog posts, you’ve highlighted Luca’s polictial aspirations. Do you think he saw the writing on the wall for Monti and therefore didn’t take part in this election?
Clearly what they need is a Frenchman, an Englishman, a South African and a German plus a special deal with the EC in recognition for their historic importance.
First of all my appreciation for your omission of “di” when referring to Mr. Montezemolo.
Secondly, maybe my lack of perception is showing but I totally missed the racist possibility in your article?
Good Italy, Bad Italy, a documentary:
http://www.bbc.co.uk/programmes/b01r1ctk
found also at:
http://www.zerohedge.com/news/2013-03-03/good-italy-bad-italy-girlfriend-coma-italy
Meh, the only racist element in all that is that saward and Di montezemolo are both racers…..
As for the economy, so long as Italy continues to produce suits, shotguns and sports cars, they’ll do OK.