Matolcsy: Italy’s unfinished business with the euro

English2021. feb. 17.GOVERNOR MATOLCSY100WORDS

On behalf of other European peers, Matteo Renzi broke up the Italian government, for the good. This time it is really a historic opportunity for an Italian comeback. /FT Big Read, 10 February 2021/

Italy has been suffering from the euro area membership since the early years of the 2000s. Italian public debt exceeded 150% of GDP without any sign of a sustainable growth path or a national consensus for improving competitiveness.

Last time the EU forced Mario Monti to launch brutal reforms without the badly needed financial resources. He failed, Italy failed and the euro area failed.

Now Italy’s time has come, partly because they have the right man to do the job. They have 200 billion euros to spend on reforms.

We urge you to study the successful reforms of the V4 countries completed in the last decade.

Governor Matolcsy, MNB, the Central Bank of Hungary

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