Cosa Nostra Italy's Largest Business

From the trader:

While Monti is trying to sort out the struggling Italian Economy, other parts of the Economy is doing just fine. Italy, the home of modern finance, where the Medici’s outlined the “money” concept of today, is struggling with the debt it has accumulated. Yields spiking higher have put a lot of pressure on the bond markets. Maybe it is time ask the Cosa Nostra for a quick loan? Courtesy Eloi Eloi, from ABC.

A report released today by an Italian employers association states that organized crime is the biggest business in Italy generating an annual turnover of 140 billion Euros (over $204 billion.)

The report by Confesercenti described the various different mafia clans with roots in different regions of the country as the “biggest bank” in the country with 65 billion euros ($83 billion) in liquidity. The association said the situation was a “national emergency” affecting businesses throughout Italy and is no longer to be considered as having a more powerful hold on the south of the country.

“During this economic crisis, mafia organizations are the only businessmen able to invest,” said Marco Venturi, president of Conferscenti.

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