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greed

This tag is associated with 2 posts

Public sector excess swamped by private greed

Public sector managers have become, like other elements of Italy’s political-bureaucratic ‘casta’, a target of public anger at a time when jobs are being slashed, wages frozen and living costs soaring.    Take Antonio Manganelli, head of the police, on Euros 621,000 a year, compared to an average income in the country of Euros 1,286. … Continue reading

Italian banks accused of usury

Italy’s banks have been attacked for loaning practically free money obtained from the European Central Bank to homeowners for huge profits. Rates for mortgages including expenses and other costs rose to 4.26% by the end of 2011, up from 3.18% a year earlier, a rise of more than a percentage point. And yet Italian banks … Continue reading

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