.MERELY THINKING about it “gives me a tummy pains”, stated Italy’s money official, Giancarlo Giorgetti. He was actually referring to a home-improvements aid that has turned into the fiscal substitute of Master Kong: a monster running amok, wreaking havoc on the country’s seldom-robust open profiles. On April 9th Mr Giorgetti showed that cases of the subsidy, called the “superbonus”, created in the four years that the scheme has been actually operating, together with insurance claims of one more that offsets the cost of refurbishing fau00e7ades, would ultimately drain the treasury of EUR219bn ($ 233bn).
That is practically 10% of Italy’s GDP in 2015. Just how on earth did traits reach this point?