MILAN, March 19 (Reuters) – In the opinion of the European Central Bank, both in Italy and in the case of Belgium continues to be a “substantial deviation from the effort Structural required under the rule of debt “.
In the monthly bulletin of March, which generally follows the contents of the last Monetary Policy Council, the ECB also urges Italy to make further reforms.
“As for the countries subjected to preventive mechanism, improved by 0.2 percentage points in the structural balance, which is expected to Italy in 2015 remains below 0.4% of GDP that had been recommended by the Eurogroup and reflects a reduction in interest charges, “reads the document.
In terms of the reforms needed to boost growth, Frankfurt focuses on interventions within the labor market and the goods and services.
“In the event of significant reforms in the labor market and in that of the goods and services that allineerebbero Italy with best practices, GDP could grow by more than 10%” in the long run, “according to the central bank.
“concurrent implementation of the reforms in both markets could increase the product even more,” he concludes.
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