Presenting the Italian central banks annual report, Governor Antonio Fazio rubbed salt in the wounds of the Italian economy, confirming the country is now in recession and deploring the impact on public finances. With growth at zero, Fazio predicted a budget deficit of four per cent in 2004 above the governments estimate of between 2.9 per cent to 3.5 per cent and the European Commissions forecast of 3.6 per cent but below the OECDs 4.4 per cent projection. Italys top central banker criticised Italian industry for being too small and costly, while failing to be innovative enough or raising productivity in relation to foreign competitors. Following this bleak prognosis, Fazio called on Italian business, public institutions and trade unions to regenerate the economy by setting realistic targets that could lead to a resumption of growth in 2006. Such a social pact could help to boost confidence and encourage industry to invest. Banks should be more supportive to industry, which would also benefit from a reduction in the controversial IRAP regional tax.
Wanted in Rome
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Myths, legends and new interpretations of portraits —let's explore the story of Narciso and participate in fun, engaging activities in front of selected old and contemporary works...
Highly referenced Scottish lady, true animal lover offers dog boarding to small or medium sized dogs. Has a large lively puppy who welcomes everyone and every dog into the house....
Prenestina, residential area, quiet fully furnished, independent entrance, terrace garden, off street parking, near large park, kitchen, big living room, two bedrooms, bathroom.
CENTRO - COLOSSEUM - This absolutely SPECTACULAR AND ONE OF A KIND apartment has a "FIRST-ROW VIEW" of the Colosseum, Palatine Hill and the park Colle Oppio. From the double living...