Mercoledì, 17 Ottobre 2018

Italy audit court says austerity contributed to recession


Rome, May 28 - The head of Italy's Audit Court on
Tuesday said that application of harsh austerity measures in
Europe is itself one of the main causes of the continent's
current recession.
Speaking at the presentation of the institute's 2013 report
on public finance, Audit Court President Luigi Giampaolino said:
"The intensity of the austerity measures adopted by the European
countries was, itself, a relevant cause of the spiraling towards
Giampaolino added that the loss of GDP, which earlier
Tuesday he said was equivalent to some 230 billion euros in
Italy, has been "translated into a drop in the overall tax take
but not in a drop in the fiscal pressure" in Italy.

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