Italy's fiscal adjustment is well advanced. To say it is Carlo Cottarelli, director of the Fiscal Affairs Department of the International Monetary Fund, who paints a portrait of the situation in the Eurozone speaking on the sidelines of a conference organized by Advantage: “There are countries like Italy and Germany that have completed the bulk of the fiscal adjustment, other countries where there is still a way to go, like France".
Lastly, according to Cottarelli, there is no risk that the easing of market pressure could jeopardize the process of fiscal consolidation, but he admitted "if there is pressure, countries adjust more quickly".
