- Says risks for Italy are still tilted to the downside
- Sees possible gradual increase in output in next quarters
- Sees 1.1% growth in 2015 (slightly below official forecasts of 1.3%)
- Stresses urgency of labour market reforms
- Sees Italian public debt to peak at 136% of GDP in 2014
Now I’m sure there’s more than one person who will put me right but it seems, from the outside, that Italy has tried to take the austerity pill but is not seeing any improvement, unlike the mild one being seen in Spain.
If you can’t improve your economy from effectively cost cutting then you know something is seriously wrong.
