Italy has been a depressed economy for a long time now and its environmental degradation is not helping the country in any way. New hope is found as the leadership of Italy sees a new face and new vision.
This new administration has garnered hope for the people of the economy and climate concerns. With the new coalitions claims and their visions for the clean environments, the people are hoping that Italy will soon make significant changes to the economy and make it cleaner and more sustainable as most of the European nations are doing if not already done. The former Matteo Salvini pledged that he would invest 50 billion Euros which will be aimed at reviving the already dead economy and energy sector. The Italian economy, more than any European economy, is in deep need of some strategic investment and stimulus action. It has been suffering the twin curses of low investment and low consumption. The lack of perspective and hope in the future has turned Italy into a nation of hoarders.
There is little investment in strategic growth and in re-qualifying the workforce or expanding and moving industries up in the value chain. Moreover, Italy remains a highly unequal society with huge disparities between its citizens. As Italy’s growth remains anemic, it must also be noted that its economy is highly polluting and dependent on the consumption of fossil fuels. This is why Italy should invest in its own Green New Deal, to tackle the systemic issues that plague the quality of its development; slow growth, inequality, and environmental degradation.