.MERELY THINKING about it “offers me a tummy pains”, mentioned Italy’s money minister, Giancarlo Giorgetti. He was pertaining to a home-improvements subsidy that has become the economic equivalent of Master Kong: a monster running amok, wreaking havoc on the country’s seldom-robust open accounts. On April 9th Mr Giorgetti showed that insurance claims of the aid, referred to as the “superbonus”, made in the four years that the system has actually been operating, in addition to cases of another that offsets the expense of refurbishing fau00e7ades, would ultimately empty the treasury of EUR219bn ($ 233bn).
That is almost 10% of Italy’s GDP last year. Exactly how on earth performed points come to this factor?