January 13, 2013

2013 Economic Freedom Report highlight Italy's troubles

The appalling state of Italian economy is no longer getting international headlines but the slide of the county toward third world standards is continuing unabated.
The new 2013 report on Economic Freedom has been published; a full report can be found here and again Italy's ranking is a disaster for a major economy.

On the overall score Italy is ranking 83rd which by itself is an appalling result for a major developed economy, positioning itself below Uganda and Sri Lanka.

But when it comes to Freedom from Corruption Italy manage to score an appalling score of 39 together with Ghana and Macedonia.


Below some extracts from the report delving into an analysis of Italy's shortcomings:

The foundations of economic freedom remain weak in the absence of an efficient judicial framework to provide effective and timely resolution of cases. Corruption, often involving government officials, is a growing concern, severely undercutting confidence and trust in the government.

As per the rule of law and corruption Italy is faring among the worst countries, below the motivation for such low ranking:

Property rights and contracts are secure, but court procedures are extremely slow. Many companies choose to settle out of court. The legal system is vulnerable to political interference. Widespread corruption has bred a culture of lawlessness and tax evasion and has weakened respect for the judiciary. Enforcement of intellectual property rights is below developed-country standards.
And when it comes to attracting investments:

Regulatory complexity causes delays and increases the cost of entrepreneurial activity. Completing licensing requirements takes over 200 days and costs more than the level of average annual income. Serious labor market rigidities constrain job growth, and the informal labor market accounts for a large proportion of employment. Stagflation engendered by the eurozone crisis presents monumental monetary policy challenges.

       
       
Read more about Italy Economy.
        See more from the 2013 Index.

   

OVERALL SCORE BY COUNTRY:


Hong Kong 89.3
Singapore 88
Australia 82.6
New Zealand 81.4
Switzerland 81
Canada 79.4
Chile 79
Mauritius 76.9
Denmark 76.1
United States 76
Ireland 75.7
Bahrain 75.5
Estonia 75.3
United Kingdom 74.8
Luxembourg 74.2
Finland 74
The Netherlands 73.5
Sweden 72.9
Germany 72.8
Taiwan 72.7
Georgia 72.2
Iceland 72.1
Lithuania 72.1
Austria 71.8
Japan 71.8
Macau 71.7
Qatar 71.3
United Arab Emirates 71.1
Czech Republic 70.9
Botswana 70.6
Norway 70.5
Jordan 70.4
Saint Lucia 70.4
South Korea 70.3
The Bahamas 70.1
Uruguay  69.7
Colombia 69.6
Armenia 69.4
Barbados 69.3
Belgium 69.2
Cyprus 69
Slovakia 68.7
Macedonia 68.2
Peru 68.2
Oman 68.1
Spain 68
Malta 67.5
Hungary  67.3
Costa Rica  67
Mexico 67
Israel 66.9
Jamaica  66.8
El Salvador  66.7
Saint Vincent and the Grenadines 66.7
Latvia 66.5
Malaysia  66.1
Poland 66
Albania 65.2
Romania 65.1
Bulgaria 65
France 64.1
Rwanda 64.1
Thailand  64.1
Dominica 63.9
Cape Verde 63.7
Kuwait 63.1
Portugal 63.1
Kazakhstan 63
Turkey 62.9
Montenegro 62.6
Panama  62.5
Trinidad and Tobago 62.3
Madagascar 62
South Africa 61.8
Mongolia 61.7
Slovenia 61.7
Croatia 61.3
Ghana 61.3
Paraguay  61.1
Uganda 61.1
Sri Lanka 60.7
Italy 60.6
Saudi Arabia 60.6
Namibia 60.3
Guatemala  60
Burkina Faso 59.9
Azerbaijan 59.7
Dominican Republic 59.7
Kyrgyz Republic  59.6
Morocco 59.6
Lebanon 59.5
The Gambia 58.8
Zambia 58.7
Serbia  58.6
Cambodia 58.5
Honduras  58.4
The Philippines 58.2
Tanzania 57.9
Gabon 57.8
Brazil 57.7
Benin 57.6
Belize 57.3
Bosnia and Herzegovina 57.3
Fiji 57.2
Swaziland 57.2
Samoa 57.1
Tunisia 57
Indonesia 56.9
Nicaragua  56.6
Vanuatu 56.6
Mali 56.4
Tonga 56
Kenya 55.9
Yemen 55.9
Moldova 55.5
Senegal 55.5
Greece 55.4
Malawi 55.3
India 55.2
Nigeria 55.1
Pakistan  55.1
Bhutan 55
Mozambique  55
Seychelles 54.9
Egypt 54.8
Côte d'Ivoire  54.1
Djibouti 53.9
Niger 53.9
Guyana 53.8
Papua New Guinea 53.6
Tajikistan 53.4
Bangladesh  52.6
Cameroon 52.3
Mauritania 52.3
Suriname 52
China 51.9
Guinea 51.2
Guinea-Bissau 51.1
Russia 51.1
Vietnam 51
Central African Republic 50.4
Nepal 50.4
Laos 50.1
Micronesia 50.1
Algeria 49.6
Ethiopia 49.4
Liberia 49.3
Burundi 49
Maldives 49
Togo 48.8
Sierra Leone 48.3
Haiti 48.1
Belarus 48
São Tomé and Príncipe  48
Bolivia 47.9
Lesotho 47.9
Comoros 47.5
Angola 47.3
Ecuador 46.9
Argentina 46.7
Ukraine 46.3
Uzbekistan 46
Kiribati 45.9
Chad 45.2
Solomon Islands 45
Timor-Leste 43.7
Republic of Congo  43.5
Iran 43.2
Turkmenistan 42.6
Equatorial Guinea 42.3
Democratic Republic of Congo 39.6
Burma 39.2
Eritrea 36.3
Venezuela  36.1
Zimbabwe 28.6
Cuba 28.5
North Korea 1.5

January 12, 2013

Blackrock Castle




Blackrock Castle, formerly Mahon Castle, is a 16th century castle located about 2km from the heart of Cork city, Ireland on the banks of the River Lee.
In the late 16th century, the citizens of Cork appealed to Queen Elizabeth I to construct a fort at Blackrock to "repel pirates and other invaders". In or around 1600, a round tower was constructed to safeguard against pirates "carrying away" vessels entering the harbour.
Blackrock Castle houses Ireland's first fully interactive astronomy center developed by the award-winning multimedia company Martello Media. The exhibition is now open to the public and is themed "The Search for Extreme Life in the Universe".







January 10, 2013

Global Manufacturing Ranking

The leaders of global manufacturing are changing rapidly, China, India and Russia are rising and Germany, Japan, UK, and Canada are sliding. The following chart simplifies the evolution of global manufacturing economies over the last four decades.