This Is the End of Berlusconi’s Saga: Elser

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Nov. 28 (Bloomberg) -- Marco Maximillian Elser, Partner at Advicorp, discusses politics in Italy now that Berlusconi has been removed. He speaks on Bloomberg Television’s “On The Move.” (Source: Bloomberg)

U.s. viewers.

Yes, happy thanksgiving.

Is not the end.

-- it is not the end and yesterday posco was a foregone conclusion.

-- yesterday's vote was a foregone conclusion.

He did not even show up because he did not want to face the nominee and was escorted out by the lackeys.

He was escorted out because that is the way that it would have been done had protocol had been followed.

The senate is concerned and politics is concerned because he still is a powerful force to contend with.

I want to talk a little bit more about that.

There is one thing that i have learned, never underestimate silvio berlusconi.

It seems that he is launching a campaign and he wants to muster the popular support.

Is he dangerous?

Um, i don't think so.

He has spent his energy and he will have to face some very significant trials for bribing senators to come to the party, for the ruby-gate scandal.

That will take a lot of ammunition out of it and he will spend a lot time in lawyer's offices trying to create a valid defense.

At the end of the day, his meteor cries -- meteoric rise went up and down.

It is similar.

Berlusconi has a disadvantage and does not have a passport to leave the country anymore.

That is a very good point.

There are still rally votes, though.

Talk about the current government that has survived without the support of berlusconi's allies.

Will they survive the next 12 months?

Berlusconi's claim to fame was a majority of the senate.

That has turned to the left and letata has senators.

He has a decent majority to finally, to finally entertain and create and execute these reforms that have been necessary for the last 10-15 years.

By the way, or list tony, when he had the majority of the senate, -- berlusconi, when he had the majority of the senate, was unable to do this.

He was unable to execute his promises.

He has the political power to execute the political, a lot for all, employment, and judicial reforms.

Many of these instances, he was acquitted because of prescription and statutory limits.

Trials in italy take 10 years.

That is one of the burdens for the political system.

Talk to me about the reform.

Letta has a mandate to push this through.

Will this be a different italy and a different political class in italy?

Wow [laughter] i think that if he puts his mind to it and does not get the obstruction, he will have a fight with the mayor of florence . you will be able to get these reforms through.

The fundamental reforms are labor reforms and it is too low to hire people.

Once you hire someone, you are hired for life and it is like a marriage.

You cannot fire at will.

There are lots of small and medium-size enterprises that would like to hire people but will not he can as they do not want to be aggravated with his perpetual debt to the labor market.

The judicial reform is capable.

The senate and chamber of deputies should be cut in half to send a signal to the italian economy that this is for real.

They are going to do it.

He is a few months late to the party.

He is very detailed and he sees that they do not want to repeat the errors of the past.

Thank you.

A little bitcoin goes a long way.

The currency is coming up next.

This text has been automatically generated. It may not be 100% accurate.

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