Italy's a Resource Poor Society

Italy is a resource poor society. It's her net energy importer, all the rest of it. The economy has that big divide between hyper productive sector and some really, really unproductive sectors as well. Some of those are things that italians will no way change. Despite this, despite this, italy has hi productive companies. I mean, you go anywhere around the north and look, look, for example, at the tool making industry. You know, these small an meteos desiring cars. They're extraordinary, absolutely manufacture. And so then italy goes on the uro and that rules out the devaluation strategy over again. So from that period onwards, it