Truth be told, years have gone by and even as on date, Italy really hasn’t been able to fix its economic chaos, a state to which it would descend starting 2018, when the struggles became real.
Prior to that, Italy had, unfailingly, been the third-largest economy in the currency bloc.
But post 2018, with the country’s total economic debt, believe it or not, being no fewer than 131 percent of the GDP, which rightly perturbed the Eurozone contingent, who began pushing the country to lower its debt.
Thus, in essence, the period close to the past half a decade has been anything but desirable for a country whose national products, such as Gucci, Lamborghini, Ferrari, Enel have, over many many decades, gone on to capture the imagination of the world.
And just when it seemed that all such troubles had vanished in thin air, there’s more ensuing chaos for a country that now has to battle a growing climate and ecology-related concern.
So what has happened that has catapulted Italy to global headlines none of which paint a rosy or anything close to a comforting figure?
Well, apparently, the most famous of all Northern regions in Italy, i.e., Lombardy is facing a massive drought as we speak. Being a hub of fashion and finance, with Milan as its leading (as also capital) city, Lombardy troubles can’t be taken lightly.
The touristy region peppered with countless visitors perhaps all through the year.
That being said, in order to gauge a greater understanding of just what’s hampered Italy’s Lombardy region, the following insights from India’s Republic News TV come to the fore:
Unusual heat waves and lack of adequate rainfall have inflicted Italy adversely as the Southern European country has been undergoing its worst kind of drought in recent days. An Italian farm group, Coldiretti stated last week that the drought in Italy has dried up rivers that are vital for irrigation, especially the Po river, thereby endangering almost 3 billion euros (or $3.1 billion) in agriculture. The seasonal harvest is expected to encounter a 30% to 40% loss, Associated Press reported, citing Copagri, Italy’s agricultural producers’ association.
Suggested Read – 5 Simple Ways To Reduce Water Wastage At Home!
As the drought amplifies, impacting water supply and agriculture, the chief of the Italian region of Lombardy, Attilio Fontana, has issued a regional state of emergency, Euro Weekly News reported. All inhabitants are asked to use water carefully and only when required, according to the declaration made overnight on June 24.
Since last week, rains have been scarce in the area, driving even the Po, Italy’s longest river, to dry up in certain parts and cause Lake Garda’s water levels to gradually decline. According to the Euro Weekly News report, the ongoing drought is the worst the country confronted in more than 70 years.
But all of that said, perhaps the worst bit of news is that the drought threatens a loss of 3 billion Euros to the country. In a post COVID world, where even mighty economies are yet to fully recover to register cash-ringing profits, can there be anything much worse?