Trasformismo and the Italian mortgage crisis
Wednesday, May 28th, 2008One of the first moves of Berlusconi’s new government was for the Finance minister Giulio Tremonti to announce that an agreement had been reached with the Italian banking association (ABI) to allow for cash-strapped mortgage-holders to renegotiate their variable-rate loans into fixed-rate ones.
It looks set to be a highly popular move, alongside the abolition of [...]