Angel Gurria, secretary general of the OECD, summarizes the Italian situation after the G20 talks thus: “The drop of over 200 points in Italy's spread is quite important – he told the press – but we need to maintain a credible alert" and keep alive the possibility of asking for aid from the EU and the ECB: "The bazooka must be loaded and aimed, and, if necessary, activated".
According to Gurria, the main interventions to restart the Italian economy are the fight against corruption, which "must be fought to the utmost", and the reduction of the tax wedge which would, among other effects, also “reduce the disincentive to create jobs”. Even the fight against tax evasion, "a curse we must all fight" is a central issue to be resolved, not only for Italy.
Europe is heading in the right direction, but, according to Gurria, "it must more than speed up" its efforts to recover from the crisis, also because growth prospects "still remain weak".
