MLA:
Remondini, and Totaro. "Italy Seeks to Raise Cash From Frequencies Amid Debt Crisis - Bloomberg." Bloomberg - Business & Financial News, Breaking News Headlines. N.p., n.d. Web. 18 Jan. 2012. <http://www.bloomberg.com/news/2011-12-20/italy-seeks-to-raise-cash-from-tv-frequencies-amid-debt-crisis.html>.
In this article, Remondini and Totaro elaborate on the outcome of Berlusconi’s time as prime minister and explain in depth Monti’s plan to fix the economy. Monti plans on selling the six digital frequencies to the highest bidders. This could result in a revenue of $2.6 billion. Monti wants to “protect Italy from the spread of the euro debt crisis and bring down record borrowing costs.” In order to do this, he plans an “overhaul of the pension system, a new property tax on primary residences and a levy on capital repatriated in tax amenities.” These plans, however are controversial, with many supporters, but also people who doubt the plan’s success. Although Italy raided 3.95 billion euros in September by selling frequencies for so-called long-term evolution (LTE technology), Berlusconi had also tried something like this, trying to stage a so-called beauty contest aimed at boosting competition. However, this would only allow the spectrum to be rewarded after 20 years, which is much too long for it to be profitable due to the rapid changes in technology from year to year. This article seems very credible, with Remondini and Totaro taking a non-biased viewpoint towards Monti’s plan, giving the advantages and disadvantages behind his plan, while also offering historical evidence behind their viewpoints. This source seems credible and is helpful because it explains Monti’s plan to fix Berlusconi’s destruction of Italy’s economy.
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