PEST-C aspects of Italy. When it comes to dealing with weak pecuniary locus of the country, Italy has announced to cut its budget amounting to €26bn

omplete 6 pages APA formatted article: PEST-C aspects of Italy. When it comes to dealing with weak pecuniary locus of the country, Italy has announced to cut its budget amounting to €26bn from the period span 2012-14. In accordance with the Transparency International’s Corruption Perception Index 2011, the country is placed at 69th among 183 nations (“Italy Country Profile,” 2012, p. 4). In the context of European Union, Italy is deemed as having the highest aggregate tax rate. In accordance with Paying Taxes 2012, the nation’s aggregate tax rate was 68.5%, which is notably above the average of EU of 43.4%. Such taxes may comprise of profit and labor impositions. Dismally, the nation’s aggregate piracy rate is 49% that has eventuated to procure detrimental losses of €1.87bn. such piracy issues are associated to business and entertainment software (“Italy Country Profile,” 2012, p. 5). However, the Senate has strengthened the legal structure to instill live competition in the country (“Country Intelligence: Italy,” 2012, p. 31). The information was the outcome of BSA’s Global Software Piracy Study that was conducted last 2010 (“Italy Country Profile,” 2012, p. 5).&nbsp.The notion of financial turmoil is a very significant factor in analyzing the economy of a country. In the case of Italy, it has become vulnerable to the financial turmoil because of its detrimental operations. The banking system of the country has experienced a pace of difficulty because the lending institutions of the country are tainted with sovereign debts. Furthermore, non-performing loans, such as substandard, restructured, bad, and past-due loans. In accordance with the International Monetary Fund, these loans have incremented to 11% in 2011 from about 6% in 2008. The debt turmoil has become the triggering factor for organizations to be exposed to short-term&nbsp.debts, which are dependent to the lending institutions. Otherwise stated, organizations are doomed to fail because of the potential risks of high-interest rates and be liquidated.&nbsp.