The Collapse of Parmalat

in Italian Politics
Author: Marco Onado
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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.