Italian deputy governor calls for fiscal expansion in eurozone
Overly restrictive measures could make fiscal policy “part of the problem”, Panetta says
Some eurozone member states need to pursue more expansionary fiscal policies, according to a deputy governor of the Bank of Italy.
Some eurozone countries "have the leeway for an expansion that might prove beneficial for them and for the rest of the area", Fabio Panetta told an audience in Milan on April 14.
Examining the cyclically adjusted primary balance showed the eurozone's fiscal stance after the onset of the global financial crisis was less expansionary than that of other advanced
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