Naples and Palermo, but not only. I am in fact, at least ten large Italian cities are one step away from bankruptcy, despite the feverish work of a Palazzo Chigi task force to avert the risk of collapse, as is happening in Spain where, after the Valencian community, Catalonia is now at risk. The two major southern capitals would lead the black list, followed by Reggio Calabria, which had already ended up in the red in 2008, and by many other smaller municipalities.
The coup de grace to the already shaky accounts of the municipal administrations would come from a rule of the spending review which imposes the devaluation of 25% of the residual assets accumulated to date, i.e. those revenues which have already been accounted for, but which have not yet been collected (and which will not be collected in their entirety), and which remain indispensable revenues to make ends meet for the Municipalities on the edge of the precipice.
The phenomenon of "instability", with all that it entails, has already taken hold in the last two years, with an exponential growth in cases. Following this rule, and the further cuts envisaged by the spending review (500 million since 2012 and one billion a year since 2013), many other administrations could be overwhelmed. Many big cities, Naples and Palermo above all, are already trembling.
