Economy / Politics

Are the Italian economic reforms working?

Despite some controversy over the data, various signals point at a recovery of the Italian economy. For example, the figures recently resealed by the National Social Security Institute indicate that about 700,000 new permanent jobs were created in 2015.

The Democratic Party of Prime Minister Matteo Renzi will be eager to claim merit for this alleged positive trend, and to use it as a weapon in the battle for the reform of the Constitution which is being fought in the Senate.

However, even if the trend became clear and consolidated itself, it would be hard to attribute it to the Government rather than to the ECB stimulus, the robust recovery of some countries which are importers of Italian goods, or simply the ups and downs of the economy. After all, Italy comes from a string of disastrous years, and it is only physiological that there is some sort of rebound.

 

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