Giovedì, 18 Ottobre 2018

Bank of Italy chief shouted down, expects tough 2013


(see related stories)
Florence, January 18 - Bank of Italy Governor
Ignazio Visco said 2013 was going to be another ''difficult
year'' during a speech in Florence that was interrupted by
protesting students.
Visco said estimates pointed to a 1% contraction in the
economy this year even though Italy is set to pull out of
recession in the second half of 2013.
But he added that the country should stay on the path of
financial rigor.
"Achieving balance in the public accounts is the
precondition for success," he said.
"The uncertainties that condition the financial markets are
linked to tensions related to sovereign debts. They reduce
confidence and remove incentives to invest and innovate".
Visco's speech at the University of Florence was interrupted
by student protests, which at one point forced the dean to leave
the hall where the central banker was holding his presentation
to attempt to calm the demonstrators.

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