Venerdì, 19 Ottobre 2018

Letta sees early signs of economic recovery


Bolzano, August 5 - Italy's nascent economic
recovery must not be derailed by a political crisis, Prime
Minister Enrico Letta warned Monday.
"We cannot afford a political crisis," Letta said, hours
after meeting with the head of the Bank of Italy as well as his
finance minister.
That means Italy must move quickly on election law reforms,
to head off future political instability, added Letta.
He called for "urgent" reforms to Italian election laws
this fall.
"We must give a signal that we want to overcome the causes
of instability".
Letta's fragile coalition government also faces threats
from ex-premier Silvio Berlusconi's People of Freedom (PdL)
party, which was outraged by last week's court decision
upholding Berlusconi's conviction on tax fraud.
Some have threatened to pull out of the coalition
government in protest, triggering new elections.
Earlier in the day Ignazio Visco, governor of the central
bank, told Letta and Finance Minister Fabrizio Saccomanni that
he sees further signs that Italy's economy may finally be
A Bank of Italy source said Visco reported that although
signs of recovery are appearing, these are coming slowly and
need reinforcement.
Italian banks are solid, but distressed areas in the
Italian financial system persist, causing the Bank of Italy to
pay particular attention to capital ratios within banks, the
source added.

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