Italy missed 'extraordinary' market change, says BOI head

Visco says must play catch-up on decades of economic shift

Italy missed 'extraordinary' market change, says BOI head

Rome, May 31 - Over the past 25 years, Italy has failed to take part in enormous marketplace changes and must now act fast to catch up, Bank of Italy Governor Ignazio Visco said Friday. "We were not able to respond to the extraordinary geopolitical shifts in technology and demographics of the last twenty-five years," Visco told the central bank's annual meeting in Rome. That is now taking an enormous toll on the Italian economy and government policy reform is essential to catch up and stimulate an economic recovery, he said.

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