Cuts, cuts, cuts. For years, Italian Budget Laws have been mainly this. For years, politicians of every party have been promising this. Some observers warned that the cut storm is depressing the economy further. And yet apparently, it is not still enough.
Today, the Deputy Director General of the Bank of Italy, Mr Luigi Federico Signorini, told the Budget Committees of both the Chamber and the Senate that “expenditures must be monitored carefully in the last months of the year”. Moreover, “only more muscular cuts” will be able to avoid “renewed increases of the taxation”.