“In the event of significant interventions on labor and product markets that align theItaly to best practices, in the long term the GDP could increase by over 10 percent”. The European Central Bank writes it in the economic bulletin published this morning.
The Eurotower, however, also notes that in Italy as in Belgium "there continues to be a significant deviation from the structural effort required by the rule on debtcontained in the European Stability Pact.
In particular, in our country "the improvement of 0,2 points of GDP expected on the 2015 structural balance remains lower than the 0,4 points of GDP that had been recommended by the Eurogroup, and reflects a reduction in interest expenses".
On the side of the Quantitative easing, the ECB underlines that the securities purchase plan launched on 9 March "has already produced a substantial improvement in general financial conditions" and now "the economic recovery is expected to gradually strengthen and broaden".
Yields on lower-rated euro area sovereign bonds have also declined, although their volatility has increased in relation to uncertainty about Greece's ability to maintain access to assistance. financial”.
As for the job market of the Eurozone, "should improve further in the short and medium term", writes the ECB, recalling that the employment situation "is gradually improving".
