Brussels

Italy's imbalances require decisive action, says EU

Country needs to address loss of competitivenes, debt

Italy's imbalances require decisive action, says EU

Brussels, April 10 - The European Commission (EC) said that there were major imbalances in the Italian economy that require urgent attention in a report on Wednesday. "Italy is experiencing macroeconomic imbalances, which require monitoring and decisive policy action," the EC said in a report on 13 European Union states whose economies are considered in need of "in-depth reviews". "In particular, macroeconomic developments in the areas of export performance and the underlying loss of competitiveness as well as high public indebtedness in an environment of subdued growth deserve continued attention in order to reduce the risk of adverse effects on the functioning of the Italian economy and of the Economic and Monetary Union".

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