everybody has forgotten silvio berlusconi.is back and his center-right coalition is gaining steam and could well be the winner of the next election. joe: remarkable. we have seen obviously over the last several years italian bond spreads have, in quite a bit narrower than in recent years. nonetheless, in recent days there has been a little bit of a kick up. what is going on that is renewing some of that anxiety? >> i think lots of bond traders have their eye on what the ecb is going to do. i think italy is probably one of the countries which are really in the firing line if and when the ecb decides to move. there was a little bit of an uptick, some connected it to an interview which berlusconi gave where he spoke about currency as possible arrangement for a late. having the euro alongside some domestic currency. that created some anxiety because people are listening again to what berlusconi is saying. the big question really is what the ecb is going to do and how that will interact with the domestic politics. if we see the ecb

relocation scheme if you think it's really is to blame a little for the refugee crisis i mean there berlusconi's foreign minister in that franco frattini cautioned against italy joining british r.a.f. jets to bomb africa's richest country now one of africa's poorest countries isn't the italian government to blame but for the refugee crisis. not entirely because we were at that point we had to face a de facto action started by president sarkozy and then joined who was then joined by prime minister cameron so at that point gadhafi was doomed and there was nothing wrong in getting rid of a dictator like gadhafi what was wrong he was doing it with the military action without preparing the aftermath we doubt having a plan on what could be the future of libya and dropping libya you know. like a corpse the day after gadhafi had been defeated we have been asking for the international community starting with friends and u.k. to get involved in the reconstruction of libya institution building. creating a national security force but there was the international community was totally destructive once they it

documentary the nation was a risk of default to come under pressure of the european institutions the berlusconi government had just resigned in favor of mario monti a technician who would come for did the forthcoming catastrophe it was the first time in a decade that i came back to the land where i was born he has used a brilliant mind. to advance a moral vision. a vision of a society where men and women are free. free to choose italy had been downgraded by the rating agencies and lost credibility in the eyes of international markets there was everywhere a climate of fear and uncertainty about the future. when government attempts to substitute its own judgments. for the judgments of free people. the results are usually disastrous. the italian case with the debt out of control could have even caused a domino effect on the whole european economy not only some to pigs. but what was going on in europe in contrast to the free markets invisible hand. which improves the lives of people the governments invisible foot. trampled on people's hopes and destroys their jury. the word spread and austerity had