May 11, 2016 – Rai Giornale Radio 1 aired an interview with SEP Scientific Council member Stefano Manzocchi, in which he discussed Italian public finances and debt. Representatives from the IMF are in Milan and Rome this week to inspect the state of the government’s budget, and specifically the “flexibility” requested from the European Commission for conducting reforms and making public investments. Prof. Manzocchi argues that there is very little private investment going on right now, and reforms are badly needed to make the country more business friendly. On top of that, the current economic environment makes it ill-advised for Italy to adhere to the rules of the Fiscal Compact at this time. As such, it is no surprise that the Commission seems more than willing to consent to Rome’s request.
- The original interview (in Italian) is available from Rai Giornale Radio [starting at minute 06:30].