ITALY: A Plethora of Presidents

Italians, who rarely agree on anything, generally concede-indeed sometimes boast-that their country is just about as inefficient as any in Europe. But no one can say precisely why. Too many strikes and labor problems perhaps? Too many public holidays and long weekends? A more plausible explanation, according to a new survey compiled by Mediobanca, Italy's biggest investment bank, may be that there are too many chiefs in government and not enough Indians. By Mediobanca's count, there are 59,340 presidents running government agencies, or one president for every 900 men, women and children in the country.

The roll is headed by...

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