Lunedì, 22 Ottobre 2018
ROME

Austerity 'froze' the economy says employers' chief

English
© ANSA

Rome, July 9 - European Union-mandated austerity
policies helped right the fiscal boat in countries such as Italy
but it "froze" their economies amid an "unprecedented"
recession, Italian employers' chief Giorgio Squinzi said
Tuesday.
"The austerity policies, which were translated into hikes in
fiscal pressure and not-always-efficient cuts in public
spending, froze the economy, in the throes of a recession
without precedent," Squinzi told the Lower House.
Squnizi's Confindustria group has been among those urging
the government to move faster on vows to shift from austerity to
growth-stoking programmes.
The government has won leeway from the EU for pump-priming
measures to cut record unemployment as long as it stays within
formal budget restrictions.
Italy is suffering its longest recession in more than 20
years.

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