Wednesday 22 February 2012

Italian Austerity Government Full of Millionaires

THE DAILY TELEGRAPH: Ministers in Italy's technocrat government, which is implementing drastic spending cuts in an effort to haul the country out of the economic doldrums, earn millions of euros a year, newly released documents show.

A website on which the ministers' assets and earnings were voluntarily divulged received so many hits that it temporarily crashed, as Italians rushed to see details of the new government's startling levels of personal wealth.

Ministers were revealed to own multiple properties, including ski chalets in the Dolomites and apartments in New York.

They zip around in Jaguars, Porsches and Mercedes and – in the case of the foreign minister – on a Harley Davidson motorbike.

Details of their wealth were published as a gesture of transparency, but their extensive wealth surprised Italians at a time when the country is being asked to swallow cuts to salaries, pensions and services.

Topping the rich list was Paola Severino, the justice minister, who earned more than seven million euros (£5.9 million) last year. Read on and comment » | Nick Squires, Rome | Wednesday, February 22, 2012