Economy / Politics

Renzi says Germany is “role model”

In an interview published yesterday by the newspaper La Stampa, Italian Prime Minister Matteo Renzi labeled Germany as a “role model” for Italy. A risky statement taking into consideration the deep unpopularity of Germany and its Chancellor Angela Merkel in Italy.

Mr Renzi, however, added that the austerity policy commonly associated with Germany must be revised.

The revision for now looks very timid, however. Mr Renzi’s Minister of Economy, Mr Pier Carlo Padoan, stated that the severe pension reform introduced by Mr Mario Monti’s technocratic Government must stand.

Also the last report of the Bank of Italy, exposed yesterday by Governor Ignazio Visco, looks at odds with the optimism shown by the Prime Minister.

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