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Padoan: "ECB does its part"

The quick response between the ECB and the Italian government continues: the Italian economy minister urged the central bank to “do its part, arguing that “it will take at least two years to see the effects of the reforms”.

Padoan: "ECB does its part"

The dialectical debate between Italy and the ECB continues, which began before the August break, with a question and answer between the President of the ECB Mario Draghi and the Italian Premier Matteo Renzi regarding the process of reforms. This time it is Economy Minister Pier Carlo Padoan who is speaking, who has urged the ECB to intervene to give a boost to inflation. In an interview with the BBC, the number one of the department in via XX Settembre was clear: "everyone must play his part".

Italy's task? Pursue reforms with some slack. This issue will raise new perplexities among the ranks of penalty takers in Europe, but it is the most important match that Italy will have to play in the autumn. Meanwhile, Renzi is preparing to face the extraordinary summit at the end of August, where the issue of flexibility could represent a counterpart to the tug of war over the appointments. Padoan's judgment is based on a fact: growth this year will be much lower than the expected 4%, but the slowdown will affect the entire Eurozone. Not surprisingly, the latest GDP figures for the major European economies, including Germany, appeared rather disappointing. Only Great Britain is saved. For Padoan it will take two years to see the effects of the reforms.

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