Mike Shedlock
Courtesy of Google Translate, this time from Italy, please consider From the North-East and abroad, fleeing already 720 companies

Farewell, ungrateful Italy. In addition to brain drain, we'll get used to the migration of entrepreneurs. The news coming from the North-East lab are not at all encouraging.

Until 2010 no employer has had the courage to leave Italian soil. A sort of waiting anxiety that charge went through the last part of 2008 and the two following years.

Explains Daniele Marini, a sociologist at the University of Padua and the Director of the North East: "Entrepreneurs have felt a great loneliness. And 720 of them already internationalized and holding sizes above the threshold of 10 employees, in 2011 the companies have decided to move abroad.

It remains to be seen how many entrepreneurs make the same choice in 2012.

Marini argues that choice in the book "Innovator of the Border", just published by Marsilio, "In the face of an institutional environment essentially static, ie where no desired reforms take shape, the government is not modernization, the level of taxation remains unchanged, the preconditions favorable to business life are reduced to such an extent as to suggest some to place in other countries where the fiscal and administrative environment allows them to remain competitive."

It is as if suddenly the toy was broken, cracks in the same constituent elements Venetian economy: the capital first of all, based on the triad family, capital, labor. Marini explains: "The crisis has changed the DNA of the North-East. A society that puts its identity in the work today is to consider it as a hassle. The families, however thrifty and highly oriented economy, fear of not having resources available to address such a long period of recession."

The summation of all these elements outline the framework that has led entrepreneurs "secessionists" to set sail.

Credit Crunch Italian Style

Also courtesy of Google Translate, please consider The credit crunch? Ask the EBA

Mike Shedlock

Mike Shedlock is a registered investment advisor representative for Sitka Pacific Capital Management.
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