Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Italians Pledge to Explain Euro-Saving Efforts to EU Citizens

Don't Miss Out —
Follow us on:

July 4 (Bloomberg) -- Italy pledged to jumpstart growth-boosting efforts and do a better job telling citizens how the European Union protects the euro, according to a report on Italian plans for its turn at the bloc’s administrative helm.

“While disillusionment with the single currency has grown in recent years,” the euro’s potential “remains intact,” said the Italian presidency program. Citizens need the EU to “explain the rationale underpinning the reforms” required by euro-area budget and economic rules, the report said.

Italy plans to organize a youth unemployment summit during the next six months, and it also will aim for a new industrial policy framework and for “substantial progress” on a data protection law. “Concrete results” are needed in a proposed trans-Atlantic trade pact with the U.S., and the Italian presidency will help nations monitor the European Central Bank’s bank assessments as it takes over euro-area oversight.

Legislation on financial benchmarks will be a priority area, as will regulations on the insurance sector and pension funds, the program said. The work program also will consider proposals on money-market funds and banking sector structure.

“The European elections have demonstrated that there is a widespread and still unanswered demand for change in Europe,” the report said. “A fresh start and a radically new approach are needed if we are to give new impetus to the European project.”

To contact the reporter on this story: Rebecca Christie in Strasbourg, France at rchristie4@bloomberg.net

To contact the editors responsible for this story: Alan Crawford at acrawford6@bloomberg.net Leon Mangasarian, Zoe Schneeweiss

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.