April 16, 2017 – Il Sole 24 Ore published an editorial by SEP Senior Fellow Lorenzo Codogno, in which he discusses the need for structural reforms in Italy. The current budgetary plan is based on a drastic reduction in net debt without any restrictive measures. Therefore, it is all the more important to act on the denominator of the debt-to-GDP ratio, which is economic growth. If the legislature succeeds in respecting every promise in the plan, it would be great. However, on this, there is some doubt. Measures without a direct impact on public accounts have more or less been abandoned. Efforts to reform the public administration seem to be slowing down. With looming concerns about the electoral cycle and the eventual cessation of expansive monetary policy on the part of the European Central Bank, the sustainability of Italy public debt is once again in the international spotlight.
- The original article (in Italian) is available from Il Sole 24 Ore.