Born at Messina, he is the son of Gaetano Martino, former Foreign Minister and prominent member of the late Italian Liberal Party (PLI). In mid-the 1980s he was unsuccessful candidate for the post of PLI secretary. A member of the Italian Parliament, he was first elected in 1994, re-elected in 1996 and 2001.
Since 1992, Martino is a professor of Economics, in the Political Science Department at the LUISS University of Rome (currently on Parliamentary leave); he is author of 11 books and over 150 papers and articles on economic theory and policy. He has been a frequent contributor to Italian and international magazines and newspapers, as well as Italian and international television and radio programs.
In 1988-90, Martino was President of the Mont Pelerin Society, an international society of classical liberals, founded in 1947 by Nobel Prize Winner Friedrich A. Hayek.
In 2003, Martino was involved in the forging of a claim that Iraq had acquired uranium from Niger included in a document issued by Number 10 Downing Street titled, "Iraq's Weapons of Mass Destruction: The assessment of the British Government". This document subsequently was quoted by President of USA George Bush when he uttered 16 words that have since come back to haunt him: "The British government has learned that Saddam Hussein recently sought significant quantities of uranium from Africa."1