The International Monetary Fund points out that the Stability Pact countries of 'Euroland "who have not yet reached their medium-term objectives are required to make adjustments at least half a percentage point of GDP a year." But the goal " seems unlikely to be achieved in some countries, including France and Italy, where the government has reduced the adjustment of the budget for 2007 despite the significant increase in revenue " . Estimates of growth are also scaled by the International Monetary Fund (-0.4% in 2008) than expected and also cosà ¬ l 'Italy will grow an estimated of 1.7% in 2007 and of' 1, 3% in the next year than previously estimated in July of last fall, respectively, 0.1 and 0.4%. But the Italian government is expected Ceschia of +1.9 in 2007 and +1.5% in 2008. according to the IMF, in addition, the monetary policy of the European Central Bank (ECB), "It can remain firm in the short term, however, when the risks will be less close un'uletriore may be necessary. If the slowdown continues more alungo, a loosening of monetary policy should be considered. "
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