The economic direction that Italy has taken as well as the rest of the European Union, is not bringing the expected results. The debt of Italy is still growing, even with the consistent cuts to the pubblic spending. This situation is not a surprise or at lest should not be. The first actions taken by the Monti government, the supposed savior of Italy, was increase taxes in any area of the economy. After an initial increase of revenue, the disastrous effect of this measure on the overall Italian economy didn't wait long ti show. After 3 years, the tax revenues are falling, due mainly to the economy contraction caused by the previous years choices. Unfortunately this is not the end and if the economy policies at European level, I see more hard times coming for Italy.
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