Italy’s South Is Headed For Economic Meltdown

Friday, September 28, 2012
By Paul Martin

Nick Squires
BusinessInsider.com
Sep. 28, 2012

Italy’s blighted south is heading for social and economic meltdown as a result of job losses, a massive exodus of people and “industrial desertification”, according to an alarming new report.
Unemployment in the “Mezzogiorno” is around 25pc compared with the national average of 10pc, according to Svimez, a think tank on economic development for the region.

Less than one in four women work, 147,000 jobs were lost between 2007 and 2011 and 1.35m southerners fled the region in the last decade in search of better opportunities.

Many of them came from the region’s big cities, including Palermo and Catania in Sicily, Naples in Campania and Bari in Puglia.

The Rest…HERE

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