Tuesday, 25 June 2013

Delusional Italy

The Italian Parliament (such as it is and if it sees out the day) is to vote today on whether to proceed with Italy's purchase of 90 F35 fighter bombers. 
In Italy's current situation - economic, political, institutional, constitutional, ethical - existential might be the word,  it would be best to put such an aircraft purchase  on hold and rethink. 

After all, there are iffy government coalition partners to reconsider,   Constitutions to rewrite in groups of 75 talking heads plus Napolitano (88)   (not least because constitutionally Italy is bound not to make war and the F35 is indubitably an attack aircraft)  taxes to lower and rescind, and a 2.03 trillion euro public debt. There are the fabled  youth unemployed (and all the other unemployed who aren't even consoled by their youth) in need of being 'kick-started' into work  - though why  use imagery from getting your motor scooter going when imagery from flying your F35 would be so much more  blue sky thinking in our modern Italy?  And are we sure that the state automatically accessing and monitoring all bank account activity is going to stop (rather than merely confirm the turn of speed now displayed in) the great Italian wealth exodus?

Even the hope of dragging some sort of administration on over the summer (which isn't here and everyone is too poor to go the seaside anyway)  until the currency union can get its rescue mechanism ducks in a row  and then try rescuing one of its largest participant economies, is collapsing. 

All a vote to commit to the F35 will bring is more debt in the shape of penalty  clauses, not sleek fighter bombers like Turkey will have.

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