Skip to content

Subscriber Only

Italy State Failing Businesses Just When They Need It Most

Bureaucracy, bank procedures delay dispersal of vital loans
State’s poor performance undermines Italy’s case for EU help

A sign reads “Without help from the government, we can’t open” in Rome, May 18. — A sign reads “Without help from the government, we can’t open” in Rome, May 18.Photographer: Flavia Rotondi/Bloomberg

By

Sonia Sirletti, and

Alessandra Migliaccio

June 4, 2020, 3:00 AM UTCUpdated onJune 4, 2020, 5:07 AM UTC

It’s been six weeks since Eleonora Furlan first asked about an 800,000-euro ($896,000) state-backed loan to save her business, but she still has no idea if she’ll get it. And her seven employees haven’t received any state relief since their temporary layoffs.

“I’m angry I’m not getting a clear answer; I have no Plan B,” said Furlan, the 42-year-old owner of Pregi Srl clothes wholesaler near Turin in northern Italy.