The Euro's Achilles Heel; Italy's Economy  

Oleh:

[s.n]

Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 399 no. 8728 (Apr. 2011), page 53.
Topik: Debt; Euro Zone's Crisis; Markets; Budget; Deficit

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.65 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

Lihat Detail Induk

Isi artikel

Italy's public debt is the sleeping dog of the euro zone's crisis. So far the markets have mostly let it lie. Although in 2010 it rose by three points, to 119% of GDP, Silvio Berlusconi's finance minister, Giulio Tremonti, held the budget deficit to an impressive 4.6%, well below his target of 5%. His firm hand has saved Italy from being lumped with the euro-zone's PIGS: Portugal, which has just asked for a bail out Ireland, Greece and Spain. "With our feet on the ground, one step after another, the Italians and Italy are going in the right direction," Mr Tremonti has said. He was speaking after figures showed faster-than-expected growth in 2010. Yet the revised number was not reassuring. After shrinking by 5.2% in 2009, GDP inched back to 1.3% growth last year. But the euro zone as a whole grew by 1.7%, with Germany alone growing by almost 4%. Mr Tremonti is unabashed. Speaking to the Ambrosetti financial forum on April 2nd, he conceded that Italy would grow slightly more slowly than Britain and France this year, but added that were he running as big a budget deficit as these two, it would be growing faster.

Opini Anda

Klik untuk menuliskan opini Anda tentang koleksi ini!

Kembali