Italians have been taking their own lives at an alarming rate as a result of the economic crisis in recent weeks, forcing a business group to put in place a dedicated psychological assistance network.
Daily media reports have thrown the spotlight on the desperation of small business owners, workers and unemployed people who have lost hope as the economy struggles through recession and unemployment reaches record highs.
One of the most shocking cases was the self-immolation last month of a 58-year-old builder in Bologna in central Italy who was under pressure over unpaid taxes. He died of his burns in hospital after nine days of agony.
In the latest case on Thursday, a 53-year-old farmer was found hanged in his farm building in northeast Italy, leaving behind a wife and four children. He had told friends and relatives that his business was in serious financial trouble.
The leader of the center-right People of Freedom party, Angelino Alfano, pointed to “a wave of suicides linked to economic difficulties.”
Sergio Marchionne, the chief executive of Fiat, Italy’s biggest private company, said: “This is the reflection of an unsustainable situation.”
Antonio Di Pietro, leader of the center-left Italy of Values party, added controversy to the phenomenon earlier this month when he blamed Italian Prime Minister Mario Monti directly saying: “These suicides are on his conscience.”
He accused Monti of “lying in the newspapers about the crisis being over.”
Already hit by the global financial crisis in 2009, Italy’s economy has now been weakened even more by the debt crisis and a series of austerity plans approved last year in a bid to reassure the markets over the stability of its finances.
The economy fell back into recession in the second half of last year.
Italy’s large immigrant population has also been feeling the pain of economic troubles. Last month, a 27-year-old Moroccan builder who had not been paid for months set himself on fire in Verona.
“He shouted out that he hadn’t been paid for four months and poured gasoline over himself before setting himself alight. Police raced to put the flames out and he has been taken to hospital,” a police official said.
The spate of suicides has prompted the association Businesses That Resist to put in place in several regions a network of psychologists who help business owners and workers discuss their problems and receive care.
“It’s not hard to find yourself in great difficulty,” said Massimo Mazzucchelli, a businessman from Varese in northern Italy behind the project.
Mazzuchelli said some of the most frequent problems were debts, payment of tax arrears, delayed payments by clients and getting loans from banks.
“There is therefore a concrete need for psychological assistance since the situation is getting worse,” he said.
However, he said that getting business people to admit they need help is not always easy.
“They have often done everything on their own and are used to resolving their problems on their own,” he said.
Kety Ceolin, a psychoanalyst from the Venice region, said that the business owners who come to her are struggling with “shame” and have the feeling “that there is no one out there to ask for help.”
Nvidia Corp chief executive officer Jensen Huang (黃仁勳) on Monday introduced the company’s latest supercomputer platform, featuring six new chips made by Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), saying that it is now “in full production.” “If Vera Rubin is going to be in time for this year, it must be in production by now, and so, today I can tell you that Vera Rubin is in full production,” Huang said during his keynote speech at CES in Las Vegas. The rollout of six concurrent chips for Vera Rubin — the company’s next-generation artificial intelligence (AI) computing platform — marks a strategic
Enhanced tax credits that have helped reduce the cost of health insurance for the vast majority of US Affordable Care Act enrollees expired on Jan.1, cementing higher health costs for millions of Americans at the start of the new year. Democrats forced a 43-day US government shutdown over the issue. Moderate Republicans called for a solution to save their political aspirations this year. US President Donald Trump floated a way out, only to back off after conservative backlash. In the end, no one’s efforts were enough to save the subsidies before their expiration date. A US House of Representatives vote
REVENUE PERFORMANCE: Cloud and network products, and electronic components saw strong increases, while smart consumer electronics and computing products fell Hon Hai Precision Industry Co (鴻海精密) yesterday posted 26.51 percent quarterly growth in revenue for last quarter to NT$2.6 trillion (US$82.44 billion), the strongest on record for the period and above expectations, but the company forecast a slight revenue dip this quarter due to seasonal factors. On an annual basis, revenue last quarter grew 22.07 percent, the company said. Analysts on average estimated about NT$2.4 trillion increase. Hon Hai, which assembles servers for Nvidia Corp and iPhones for Apple Inc, is expanding its capacity in the US, adding artificial intelligence (AI) server production in Wisconsin and Texas, where it operates established campuses. This
US President Donald Trump on Friday blocked US photonics firm HieFo Corp’s US$3 million acquisition of assets in New Jersey-based aerospace and defense specialist Emcore Corp, citing national security and China-related concerns. In an order released by the White House, Trump said HieFo was “controlled by a citizen of the People’s Republic of China” and that its 2024 acquisition of Emcore’s businesses led the US president to believe that it might “take action that threatens to impair the national security of the United States.” The order did not name the person or detail Trump’s concerns. “The Transaction is hereby prohibited,”