Padoan: in 2014 growth lower than expected. But defending the reforms: “Effects of the next two years”
Economy Minister interviewed by the BBC: “In Italy, a location not brilliant, but it’s different now.” On the role of the ECB explains: “All the actors do their part”
ANSA
The premier Matteo Renzi with the Minister of Economy Pier Carlo Padoan
17/08/2014
The growth in 2014 will be “much lower” expected. And the reforms “will impact in the medium term, this means in the next two years.” Talk of Italy, of economic crisis and recovery prospects Economy Minister Pier Carlo Padoan, interviewed by BBC Radio 4
“To see the effect of the reforms on growth time is needed. Few quarters are not enough, “said the minister during the interview. And if the Italian economy is contracting, it is said Padoan aware but stresses that this “does not depend on reforms, but it reflects the problems that have long existed.” He does not hide that “the path of reform in Italy has not been brilliant,” but claims the government’s choices: “The current government is different – the minister said -. We’re working just to make reforms and changes to take effect. ”
Reform, the program does not change
The program of reforms, therefore, does not change: “What is different is that for the Shooting in Italy but also in Europe, it will take longer than expected. Unfortunately – said Padoan – and I say that as an excuse, we’re all wrong. I intend to international organizations, governments, and so forth. All we expected higher growth in the euro zone this year and none so far has been right. ”
“A fact that is observable in several countries in Europe and elsewhere is that the reforms have an effective impact on growth, but it takes some time and some quarters are simply not enough,” said Padoan yet. “So, yes, the Italian economy had contracted by 0.2%, as well as Germany – continues – but it is not caused by a delay in the reforms reflects pre-existing problems for some time. And I am sure that the reforms we are putting in will benefit over the medium term, ie over the next two years. ”
The role of the ECB inflation
A European issue, not just Italian, “All the actors in the field to do their part, “Goodman said Padoan responding to a question on the role of the ECB. “What I see is that everyone do their part, which means for the ECB to be consistent in bringing inflation back near 2%, which is a reasonable figure,” but “far from current levels.”
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08/16/2014
AFP
08/17/2014
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08/16/2014
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