A price Italians are paying:
Italians born in 1970, who are about 43 now, will pay 50% more in taxes as a percentage of their lifetime income than those born in 1952, according to research from the Bank of Italy and the University of Verona. The research also found they will receive half the pension benefits that Italy's 60-somethings are getting or are poised to get.
Sadly, we in Britain - so used to sneering at Italians and their revolving door government - will be paying a similar price. Paying more and getting less - that is the lesson of modern government everywhere.