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Life after Mario?; Italy's Next Prime Minister
Oleh:
[s.n]
Jenis:
Article from Bulletin/Magazine
Dalam koleksi:
The Economist (http://search.proquest.com/) vol. 405 no. 8814 (Dec. 2012)
,
page 16.
Topik:
Economic Conditions
;
Economic Recovery
;
Prime Ministers
Ketersediaan
Perpustakaan Pusat (Semanggi)
Nomor Panggil:
EE29.74
Non-tandon:
1 (dapat dipinjam: 0)
Tandon:
tidak ada
Lihat Detail Induk
Isi artikel
Italy's public finances look a lot healthier under Prime Minister Mario Monti. Ten-year bond yields are at two-year lows and structural reforms to the economy have at least been started. Above all, Mr Monti has persuaded Europe and the world to take Italy seriously once again. Now the world is starting to worry anew. A general election is due to be held next March. On the basis of current polls, the left looks likely to win, so Mr Monti's most probable successor is the Democratic Party's candidate, Pier Luigi Bersani. Having served in four previous centre-left governments, Mr Bersani has plenty of political experience. But sustaining Italy's recent economic progress will be difficult. It is often assumed that Italy's biggest problems are the budget deficit and the public debt, which at close to 125% of GDP is among the largest in the world. Yet with the budget deficit now below 3% of GDP and a substantial primary surplus (ie, before interest payments), Italy's public finances are in better shape than those of many other euro-zone countries. Its more serious failings are a low employment rate, falling productivity and a loss of competitiveness against Germany.
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