Italian energy Moving the goalposts

Italy seems hell-bent on destroying its credibility on international financial markets. After the farce over Antonio Fazio, Italy’s central bank governor, and the resignation of Domenico Siniscalco, the economy minister, it is now planning to introduce what looks like an insane energy tax. Take a look at the proposal, contained in the draft budget for next year. The government aims to raise E800m-E900m from taxing big national energy transmission networks. Moreover, it wants the utilities to be...