The ECB warns Italy, “Piu ‘efforts on debt and reform” – AGI – Agenzia Journalistic Italy

Economy

18:09 March 19, 2015

(AGI) – Rome, March 19 – The economic recovery “should be strengthened, and gradually expand” thanks to the weakness of the euro, but there are still “many factors that continue to hamper a recovery more ‘robust attivita’”. And ‘As expected the ECB in the monthly newsletter. The Eurotower recalls Italy on reforms and respect for budgetary discipline and stresses that for 2015 the seriousness’ of macroeconomic imbalances “is increasing in several countries” eurozone. A result of “worrying that raises some questions about the application and effectiveness of preventive mechanism.”
“The activity ‘economic – it says – should accelerate with the recent improvement in the confidence of businesses and consumers, net decline in oil prices, the weakening of the effective exchange rate of the euro as well as’ the effect of recent monetary policy measures of the ECB. At the same time, – says the Eurotower – various factors continue to hamper a recovery more ‘Robust attivita’. These include mainly the process of balance sheet adjustment in progress in various areas and the slow pace of implementation of structural reforms. ” Italy, urges the ECB, “needs further structural reforms to raise potential output. In the case of significant reforms in the labor market and in that of the goods and services that allineerebbero” our country, “with best practice, the GDP could grow by more than 10 percent in the long run. ” According to the Eurotower “concurrent implementation of the reforms in both markets could increase the product even more.” Even in Italy and Belgium, the ECB continues, “there remains a considerable deviation of the effort required structural framework of the rule of debt.” Immediate reply from the Minister of Economy, Pier Carlo Padoan “The mechanical application of the rules of the debt would be counterproductive,” he said at the inauguration of the academic year 2014-2015 LUISS. “The rules should ensure the smooth functioning of the economy. When the rules are inadequate to deal with exceptional circumstances undermine the institutions,” the minister added.
Padoan finally pointed out that “the rule of debt is respected , as we said at the EU, even if you make the reforms in a decisive manner. “

“); addCustomPlayer (’16kmxkfmhwbil1i03yl9pwl8z7′, ”, ”, 300, 360, ‘perf16kmxkfmhwbil1i03yl9pwl8z7′, ‘eplayer2 ‘);} else if (window.location.pathname.match (/ ^ / (show) /)) {jQuery (“# ​​bannerDinamico”). html (“”);} else jQuery (“# ​​bannerDinamico”). remove ();});