Economy

European Commission issues damning report on Italy

death_note

Today the European Commission published its economic forecasts on the Member States, acknowledging that this year the Italian deficit/GIP ratio should go under the 3 percent target, thus pawing the way for the excessive deficit procedure regarding Italy to be closed.

This is the only good news, however.

In 2013, the Italian GIP will go down 1,3 percent, while unemployment will reach 12,2 percent.

What is worse, the Italian indebtment is expected to keep rising, reaching 132,2 percent in 2014.

Is Italy fighting against windmills ?

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