Italy's Economic System and Quality of ife

Europe

Located in the Northern, and Eastern Hemisphere of the World

Conclusion- Italy

• All the things previously said are things that kills the Italian economy and lowers the quality of life; two things that create a strong country. We know that these things, tax, population trends, economy, and more can make or break a country.
• Italy may take in an even deeper turn into problems; the main reason that they are being held together with good health care and such is because they had a stronger economy, prior to their economic downfall.
• If more complications were to continue and increase in severity, their previous lifestyle and accomplishments may not be enough to support them.
• Its significance is that these things are what put Italy in it’s current state, and the alteration or destruction of these things can possibly be what brings Italy to a more contented life, with a higher quality of life and stronger economy.

Economic Issues:

Debt

Economic Issues:

Underground Economy

• Italy's economy is fairly strong- with an estimated workforce of 25.05 billion

• The Italian efficiency of the workforce's production rates are expectantly high

• Italy's government spending is a huge problem

-the total amount of government spending is the equivalent of approximately 115% of the country's GDP.

• Italy has an export profit of $458.4 billion dollars, and import costs of approximately $459.7 billion dollars worth of commodities and necessities
• Debt is constantly increasing

• The amount of debt placed on Italy’s economy is sure to lower the country’s income, and GDP significantly
• Approximately 15% of Italy’s GDP comes from underground economic activities!

• A constant question that in mind is: If a large amount of money is made off Italy's Underground Economy; then how come, no federal debts are paid from it.

-this leads to the conception of corruption within the federal government, and various provincial/state governments

That was Italy's Economy

Italy can not afford to take on more debt

Background info

• Italy, capital city Rome, is located in Southern Europe.
• Borders other European countries:

-France

-Switzerland

-Austria

-Slovenia

• Has a population of approximately 59.83 million
• The Italian state, has an area of 301, 338 km²
• Population Distribution- 201.79 people per km²
• Many languages are spoken in Italy
• Italy runs on a Democratic and Republic government
• Uses the 'Eurozone Currency', referred to as the Euro

Italy

Italy's Flag and the Universal symbol for the Euro

Italian National Anthem

All about the Economy

Italy

• In recent years, Italy’s economy has begun to decline, and weaken

-was once the eighth highest in the Euro zone

• Is beginning to fluctuate after having multiple economic issues introduced after the turn of the century. Issues, such as:

-an immense public debt

-climbing unemployment rates

-an imbalanced development rate between cities in Northern and Southern Italy

• -and large informal sector/ underground economy
• HDI (Human Development Index) has remained still/ unaltered
• If more severe economic issues arise, Italy's Quality of Life will dramatically be affected

Italy's government has not done a lot to restore the issue

Economic Issue:

Increasing Unemployment Rate

• To make money, a country has to have workers that would generate it.
• -Due to the unemployment rate the rate of productivity is shifting
• In March of 2015, the unemployment was raised to 13% from 12.70 % in February of 2015

-not too far off from its record of 13.20 % in November 2014.

Impact on Quality of Life

• Development Levels in Italy impacted their Quality of life severely.

-taking into consideration any misery that is found within Southern Italy. Lowers the Quality of Life that was reached in the North.

-Northern Italy may be in better condition in comparison to the South, but that does not mean that it has greater conditions compared to the rest of the world.

The north also deals with the several issues

• This leaves Italy’s inhabitants with stress, annoyance, grief, and potentially may bring down the desire of their commodities
• Italy’s quality of life is now 100.99, a large improvement from their original rating.

Population Trends:

• Italy has a a rapidly decreasing birth rate, and a longer life expectancy
• The mortality rate has also decreased, and prolonged inhabitants life expectancy to around 82 years
• Costs in health care, pension plans, and other senior citizen related benefit plans would have to be raised to a country’s wide scale in order to support the majority of the aging population
• Between North and South Italy;

-as Northern Italy contributed to Italy having a birth rate of 1.65 birth per 100 people,

-the South’s already suffering population was hit hardest by the birth rate decline.

• Italy’s youth has been struck by unemployment, and the majority of young citizens are beginning to have interest and seek work abroad

Show pic of Population Pyramid

Focus Question:

What are the current economic issues in Italy? How have the population trends impacted the current economic issues in Italy?

• The country suffers from issues within:

-debt

-their productivity rates

-tax evasion

- and their industrialization

• The population trends tend to be what defines the economy in most cases. With unemployment, it creates the exact opposite of what a good economy is supposed to be: balanced and beneficial.
• With a large number of the elderly not allowing reproduction for future generations that can help the economy.
• Population trends have impacted the current economic issues in Italy by straining the ability of producing money in an efficient manner

Economic Issues:

Development Level Differences

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• The difference between Northern Italy and Southern Italy is a primordial example of various staggering development levels.

• The two different areas are put at such imbalance that the North could definitely not be able to receive help from the South in paying off the debt, and in reaching a higher quality of life for the betterment of their nation as a whole.

Italy's Economic System and Quality of Life