Italy Is No ‘Second Greece,’ Profumo Tells German Handelsblatt

While Italy is Europe’s main problem at present, it won’t become a “second Greece,” former UniCredit SpA (UCG) Chief Executive Officer Alessandro Profumo told Germany’s Handelsblatt newspaper.

Italy has strong industry, a high level of private wealth and all means at its disposal to allow the country to function well, the newspaper cited Profumo as saying in an interview. The country needs a “grand coalition of all moderate forces,” with a large majority in parliament to restore sound public finances, change election laws and promote economic growth, he said.

To contact the reporter on this story: Rainer Buergin in Berlin at rbuergin1@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net

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