|Prime Minister Mario Monti. Source: Wikimedia Commons. Shared under CC license 2.0|
It looks like things are about to get worse for the Italians, since Prime Minister Mario Monti has announced to the president Giorgio Napolitano his plans on resigning when the 2013 budget is passed. The situation for the Italians is not expected to get any better after Super Mario has resigned. They have no suitable politicians to rule the nation (perhaps with the exception of Matteo Renzi) and all of the important reforms that Monti's government planned on promoting will not be approved.
The Economist states that some of these reforms are: "... bills on competition, taxation and the simplification of bureaucracy. Another would have put into effect the new constitutional requirement for a balanced budget. Perhaps most importantly, a package of measures to stimulate economic growth is vulnerable...". Even more importantly, his departure will destroy the Italians' hopes of seeing a new electoral law, instead of an improved one which will guarantee they will not be robbed of meaningful representation.
The reasons behind Mario Monti's sudden decision, is that with Silvio Berlusconi back in politics (ah poor country, how much more can you last?) the latter's political party (PdL) has removed its support from the current government. The Economist believes that Mr Napolitano will also resign, adding more uncertainty to the situation.
Berlusconi is now promising tax cuts to get some voters on his side. To those who are thinking that he would do so, I would remind you that Mario Monti has already done so, despite the unfavourable economic situation. If it wasn't for Super Mario, Italy would have already opted for a bail-out very long ago. The current government gives the Italians something that they had been looking for a long time: credibility and trust.
Now it is up to the Italians whether they will choose to continue with a stable government which would bring them on a much better path than one which is based merely on promises and corruption. People get the politicians they deserve. Let's hope that the Italians are careful on what they choose because they will not have anyone to blame but themselves.