"We have taken note of the economic estimates of the European Commission
a GDP of 2009 to -2% is a matter of general consensus, I think
that
implement it in the updated stability program. He indicated
Minister of 'Economy Giulio Tremonti meeting with journalists
after the ECOFIN meeting in Brussels on the afternoon of Tuesday
January 20.
Tremonti has indicated for some days to know the esteem
a GDP in 2009 to share -2%. "We proceed with the numbers of consensus
We waited for the stability program
updated. "As for the controversy on the economic forecasts made
Bank 's Italy, who in recent days the same Tremonti had
indicated that they consider the 'speculation', the minister called for
reflect the fact that since the current one is not a 'crisis
normal "but characterized by strong discontinuity," the variables
are too many and too intense "to be able to look at the estimates without
doubts. "A bill is, it's one thing to believe, we use these tools
for what they are. "
About 3.8% deficit in 2009 (estimated by the level
EU Commission) "if adjusted for the effects of the economic cycle - has
said Tremonti - it is as if we were below 3%. The figures
EU Commission states that 'we have adopted the right policy and
This is also supported by the same European executive. For
As for the possible initiation of procedures for budget deficit
excessive by the EU Commission, Tremonti has indicated that "it is
too soon to go into discussions on this issue. Anyway
Director General of the Treasury has indicated that Vittorio Grilli
Brussels will proceed first on the countries that are in deficit
public over 3% in 2008. This is Ireland, Greece,
Spain, France, Malta. On 18 February the European Commission
submit reports on these countries. A second group of countries will be at
center of 'analysis Community later.
One Response
Giorgio Ferrari
January 30th, 2009 at 4:41 pm
1credp that Prof. Tremonti has a difficult task in light of indebtedness Italian pre-crisis and therefore of limited FLEXIBILITY 'in the maneuver. In other words, from a structural point of view, the system is Italy and 'fact finding unprepared.
at a recent conference all'uiversita 'Bocconi, these issues were discussed by a panel say highly innovative and internationally. in addition to the moderator, Prof Dallocchio, participated Jamil Baz, senior strategist at hedge fund GLG, Gregory Altman, Professor of International Finance and Harvard Spingardi Thomas, a member dell'Euroean Banking Report Banking Association itaiana. Baz and Gregory have submitted a joint study on the inflation outlook and hence the trend in the cost of public debt in major European countries.
Spinardi Tomaso presented a study in collaboarazione with Prof. Arnold of Massachusetts Institute of Technology on 'Behavioral Finance and the missing link between the corporate governance of financial institutions and regulatory strategy'.
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