Martedì, 23 Ottobre 2018

Bank of Italy chief sees signs of recovery


(see related story on political situation)
Rome, September 10 - Bank of Italy Governor Ignazio
Visco said on Tuesday that the country's economy was showing
signs of recovery, and that production levels were reaching an
important a turning point.
But he also warned that political instability posed a
threat to the recovery, with Premier Enrico Letta's government
in danger of collapsing in the fallout of the supreme court's
decision last month to uphold a tax-fraud conviction against
Silvio Berlusconi.
''Recent indicators show a gradual improvement (in the
economy),'' Visco said.
''The fall in production should stop in the coming
Visco also warned that: ''the downside risks to this
scenario are heightened by investors' concerns about possible
political instability,'' making reference to worries over the
fragility of Italy's unprecedented right-left coalition
''Recovery is now at hand but downside risks remain
significant. If we want to seize the opportunity we cannot relax
our efforts,'' Visco declared.
''The key to success will be the shared determination to
move towards a European Union in all respects. At this stage,
the test of our determination is the construction of an
effective Banking Union,'' Visco added.

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