Italian Government

The bank of Italy also has resisted in " the later phase, when the crisis a deep recession in all the advanced countries has followed him, hardest in Italy because it came from one decade of stagnation followed as well of one more a recovery slower than in others lugares" , it added. The next president of the BCE expressed the necessity that has Italy to approve economic reforms structural as rapidly as possible and advanced that if the Government does not undertake cuts in other games of cost different from the contemplated ones in its plan of adjustment, it will be necessary to raise the taxes. After three sessions of turbulences, stock-market of Milan lived east Wednesday a day without frights and the premium of risk of the Italian debt became moderate east Wednesday, after Tuesday yesterday marked a new record in the 347 basic points. Fitch describes to Italy as " estable" The agency of measurement of Fitch risk affirmed east Wednesday that the plan of budgetary adjustment and fiscal reform approved by the Italian Government the 30 of June goes by the good way so that Italy can maintain its present high credit qualification of " AA-" , with investment degree. Fitch foretold that " the Italian Government probably will be able to reduce the budgetary deficit since there is planeado" , reason why the agency maintains the perspective " estable" for the qualification of Italy. The agency indicates that their forecasts of growth for the Italian economy in 2011 are of a 0.7%, against 1.1% of the Government, and who, in spite of it, still hopes that the Executive of Silvio Berlusconi reduces the budgetary deficit to 3.9% of the GIP. Source of the news: Berlusconi will put under their plan of adjustment a confidence vote

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