Daily Archives: April 10, 2011

I am about to go on holiday for a week. This blog will largely fall silent unless a) Something amazing happens, b) It is once again hijacked by the FT foreign desk or c) I have too much time on my hands.

Italy has a huge national debt of something like 120% of GDP. But last week, I was told by a former top official in the Italian government that Italy has done an audit of all its possessions and found that the state’s assets still outweigh its liabilities. The difficulty is that many of the state’s possessions are difficult to realise. How do you cash in on the Colosseum, for example? Read more