Crisis-Triggered Suicides Shock Italy, Monti Blamed

Economist Mario Monti took of the seat of Italy's PM in mid-November in a bid to rescue it from the financial crisis, after Silvio Berlusconi resigned. EPA/BGNES

A 59-year-old Italian man shot and killed himself in Rome on Wednesday, the latest desperate protest against the country's economic crisis.

The Rome-based construction firm owner left a note apologizing to family members and explaining that his business was going bust.

A day earlier, a 78-year-old woman in Sicily jumped to her death because her monthly pension payments had been reduced. On Monday, a picture frame maker hanged himself because of economic difficulties.

Italy's opposition did not hesitate to blame the government's reform agenda for the suicides, going as far as to say the lost lives were on the conscience of Prime Minister Mario Monti.

Monti has declined to comment.

Italy's economy officially entered recession last month after registering two consecutive quarters of decline in GDP for the first time since 2009.

Gross domestic product shrank 0.7% on a quarterly basis, bigger than the 0.2 percent drop logged in the third quarter.

The fourth quarter decline matched the estimate published on February 15.

However, the annual decline in GDP was revised down to 0.4% from 0.5%.

All indicators signal that Italian GDP will shrink further in early 2012 as fiscal austerity crimps domestic demand and a slowing global economy reduces the opportunity for export-led growth.

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