In Italy they have just disclosed that the pension found is millions in the red.

Employees not only get virtually unlimited sick leave, holidays etc they get a 13th months pay a year and many even get a 14th months pay as well!

Then there is all sorts of red tape and funds and taxes that have to be paid into in order to keep all the parasites paid.

End result is actually that an employee costs too much but takes home less than his equivalent in France of Germany. All this is causing huge problems for the economy as personal debts increase and spending is down.

Peter

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