Mr. Illy finds similarities among the ethos of certain Italian companies, like Ducati.
Illy is the grandson of Francesco Illy, who developed the modern espresso machine and founded the company in Trieste in 1933.
Illy coffee is marketed in 140 countries worldwide, and is served in more than 50, 000 restaurants and coffee bars in the world.
Mr. Illy also has a penchant for fast motorcycles and adventures.
Ducati is using desmodromic technology to increase the power of its engines and illy uses pressurization to enhance and protect the flavors of its unique blend.
Illy's comments come as the borrowing costs of Spain, another pillar of the bloc, push toward 6%, feeding fears the debt crisis is spreading to larger economies.
According to Illy, Italian businesses have been slow to adapt to the demands of a globalized economy -- unlike many German businesses, for example, which had aggressively pursued a path of international expansion through creating foreign partnerships.
Andrea Illy, CEO of Trieste-headquartered Illycaffe, told CNN his country's woes would be "just the beginning of our problems" unless its businesses learned to compete in the international marketplace -- something they had largely failed to do.
Rooms are appointed in warm stained wood and leather with brass trimmings, have big walk-in showers, free wi-fi, Illy espresso makers and huge picture windows (ask for one overlooking 57th Street or for a Park View room on the highest floors of the 29-storey tower).
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