Italy's Fazio on economic and financial planning

In testimony given on 22 July Antonio Fazio of the Bank of Italy said in order to return to a path of growth, it will be necessary to remove the factors that cause uncertainty and weigh on the decisions of firms and households regarding investment and consumption.

"The stagnation of the economy and Italian firms' loss of competitiveness impose heavy costs on the weaker segments of the population; looking further ahead, they threaten to erode the wellbeing achieved by the entire community.

The

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