.ONLY thinking of it “gives me a stomach pain”, pointed out Italy’s money minister, Giancarlo Giorgetti. He was describing a home-improvements subsidy that has actually become the budgetary equivalent of King 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, known as the “superbonus”, created in the 4 years that the scheme has been actually operating, together with cases of another that offsets the cost of remodeling fau00e7ades, would eventually drain the treasury of EUR219bn ($ 233bn).
That is almost 10% of Italy’s GDP last year. How in the world did factors reach this factor?