Italy's economic situation is 'delicate' and needs to be monitore...
BUCHAREST - Italy’s economic situation is “delicate” and needs to be monitored closely, the European Union economics commissioner Pierre Moscovici said on Friday, as concerns are growing over the threat of recession there and a slowdown in Germany.
Moscovici said some estimates showed Italy could be in a recession this year. “These are figures that we need to follow very closely,” he said. He said that the new EU forecasts will acknowledge the current economic slowdown that is most affecting Germany and Italy in the 19-country euro zone. “There is a concern for the future of the euro zone if we are not able to reduce divergences among the 19 economies of the euro zone,” Le Maire told reporters, adding that a common budget for the bloc would facilitate convergence and needed to be agreed by June.They will also discuss a report from Brussels-based think tank CEPS that raises new concerns about Italy’s debt in relation to the growing emigration of skilled workers from the country.
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