Economics
Italy Still ‘Laggard’ of Europe, Former Treasury Economist Says
- Codogno sees banking sector outlook remaining ‘pretty poor’
- Premier Renzi faces both political and economic risk this year
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Italy is still the laggard of Europe due to a combination of lingering factors including a “quasi credit crunch” and weak demand, the former chief economist at the country’s Treasury Department said.
“The current government has done a lot, but a lot more needs to be done,” Lorenzo Codogno, former head of economic analysis and planning at the Treasury, said Wednesday in an interview with Bloomberg Television. “The banking sector is still struggling to fully recover, which basically means not enough credit to the economy in my view.”