Shooting, GDP, employment, perspectives. The Minister of Economy Pier Carlo Padoan is the point on the Italian economy through a note to update Def: “We need to move decisively on several fronts in the knowledge that in the absence of a robust recovery keeping the productive and social fabric would be at risk , household wealth threatened the prospects of young people affected. ” “In cumulative terms the fall in GDP in Italy is higher than the one that occurred during the Great Depression of ’29,” says the proprietor of the Treasury adds that “the euro area is at a crossroads,” with countries in the absence of interventions “are likely to be screwed into a spiral of stagnation and deflation.”
The alarm Padoan is hard: “We need to move decisively on several fronts in the knowledge that in the absence of a robust recovery keeping the productive and social fabric would be at risk, household wealth is threatened, the prospects of young people affected. ” Economy Minister also spoke of the labor reform: “The safety nets will be strengthened and made more inclusive. Businesses will be able to manage more efficiently the productive activity by reacting with greater readiness to cyclical developments. ”
Meanwhile, in Naples, the President of the Republic Giorgio Napolitano met with the Directors of the ECB explaining that “the number one challenge is to open a new path of strong and sustainable growth in Europe. The concern – he said – is of course the very high unemployment rate reached in the euro area and especially in some countries such as Italy. And this – he said – is a cause for concern not only for the present but also in the longer term. ”
“Italy – assured the head of state – intends to pursue with determination and speed up a clear commitment to overcome its structural weaknesses, starting with such high public debt, but at the same time contributing European agenda for this semester acts to shift the emphasis of European policies towards coordinated programs of investment in innovation and job creation. ”
For its part, the ECB President Draghi reiterated that “only the structural reforms that increase potential growth, and therefore the sustainability of the debt may create room for use in future fiscal policy» depending on pro-growth policies suggested by recalling that the EU “are also, and perhaps especially, valid for Italy.”
about the protests announced for tomorrow in Naples, on the occasion of the ECB council: “They remind us of the difficulty of our task” in resolving a crisis “felt particularly acutely in some parts of Europe.”
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