November 7, 2015 – Il Sole 24 Ore published an editorial by SEP Senior Fellow Lorenzo Codogno, in which he discusses the Autumn 2015 Economic Forecast, and what the predictions reflect for Italy and its future. He points out that Italy is one of the few member states that showed increased deficit spending, due to the “flexibility” requested for structural reforms and public investments. This is interesting because, while most of the area remained mostly “neutral” when it came to economic policy, Italy has embraced a policy of expansion. He points out that the regulations governing the EU are aimed at finding a balance between countercyclical policy and fiscal responsibility, and the positive economic outlook predicted for Italy in 2015-2016 should have, according to the rules, led to fiscal tightening rather than expansion.
- The full article (in Italian) is available from Il Sole 24 Ore.