Saccomanni: the 100-point spread is not a chimera

On a day in which the data in the Economic and Financial Document (Def) are not reassuring - the possibility of exceeding the 3% ceiling in the deficit/GDP ratio and a fall in the Italian GDP from -1,3% to -1,7% – to bring light to the Italian "coffers" are the words of the Minister of Economy Fabrizio Saccomanni. The spread - according to the minister - will shrink considerably until it reaches 100 basis points above Germany.
The recession, according to Saccomanni's statements, is winding down and Italy will emerge from it within the current year. Not only that: 2014 will close on a positive note.
Findings that do not contradict those data from the Def which see a recovery of the Italian economy starting from next year. The GDP should rise progressively starting from 2014 (+1%) reaching an increase of 1,9% in 2017. Italy should therefore recover part of the 8 percentage points lost in the recent times of recession.
Also, based on the latest reassurances from Prime Minister Enrico Letta, it will be possible to remedy the much feared 3% deficit overrun that the European Commission could not tolerate.