All currencies in US Dollar
From a financial point of view, the most important event in 2004 was
the Parmalat scandal. This subsequently set in motion a proposed
reform that encountered such a wide variety of obstacles that the year
came to an end before the matter had even been discussed in Parliament.
The scandal was the latest in a series of major collapses to
have grave consequences for large numbers of investors. This fact and
above all the failure of politicians to provide an adequate response in
the shape of more efficient, more rigorous regulations throw a spotlight
on certain essential features of the Italian economy, the investigation
of which will form the object of this chapter.
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