Friday, 18 November 2011
Now Italian are in hands of Economists
Italian debt stands at about 120% of its GDP. Most people believe that picture of Italy is much brighter than Spain or Ireland. Unlike Spain or Ireland ,Italian people took very less debt. Most part of debt is on Government. Government did not spent to much in last 5-10 years but Italy saw very low GDP growth in last 10 years less than .80% .
Now first step Government has to take to reduce deficits and repay loans it took.European Union is ready to support Italy with eurozone bailout fund.