ECB to Italy: “Need More reforms for growth, restoration … – The Messenger

The plan to purchase securities of the ECB to support the European economy, launched in January and came into operation on March 9, “has already produced a significant improvement in financial conditions General “Eurozone. This was stated by the monthly bulletin of the Institute of Frankfurt, where he emphasizes that the Eurotower “expects the economic recovery will be strengthened and will widen gradually.”

The ECB confirms that the plan to purchase bonds from 60 billion to month has already moved on bank rates, encouraging households and businesses. Of course, the European Central Bank put renewed emphasis on the collaboration of the member countries and the need to continue with the reforms, deemed “crucial to improve the growth potential”

The ECB forecasts are largely positive and speculate Italy for a + 10% of GDP in the long run, if they are carried out structural reforms and if there will be some significant interventions on labor and goods markets, which align the country with the best practices of the EU. In case of implementation of both reforms, are expected “benefits even wider in terms of GDP.”

As for the Stability Pact, however, the ECB has warned Italy and Belgium that “there continues to be a significant deviation from the structural effort required by the rule of debt” and stressed that there is a risk that this rule “is set aside. “

In particular Italy, the correction of 0.2 points of GDP remains below the 0.4 points wanted by the EU, although the deviation is part of the” flexibility “Guaranteed country as a counterpart of the structural reforms implemented so far.

 March 19, 2015 11:36 – Last Updated: 14:33

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