The final report of the ordinary Bank of Italy Governor Mario Draghi of the Bank of Italy (one of the few people who, in my opinion, this country can be affected by the policy) is hypothesized that growth will resume in 2010 in the coming months are afraid of further reductions “of occupation, income, accompanied by the continued volatility in financial markets, with negative effects on consumption and investment.”
First action to take when the markets will recover is to minimum the impact of public debt. Second ingredient is the one we’re building a global face to the regulation of risk factors to prevent a reduction of abnormal rates of interest, and costs insolvency protection, and make it so, the market more stable.
In Italy there was a block of productivity (and consequently stop shopping and employment) by SMEs, especially those who had a big export. To avoid this situation Dragons offers: “What we can and we must ask our banks to increase their ability to recognize the credit in the present exceptional circumstances. Special attention should be placed on the medium long term prospects of companies ask for financial assistance. ” Therefore, without blocking the application for credit. Could also be significant strengthening of sensitization.
On the employment side is a valid action was the use of layoffs is the ordinary and of unemployment, which in the opinion of Dragons are not to be reformed in its entirety, but as tools to sharpen, also “for the low wages could be studied for a tax credit: successfully adopted in many countries, it could help the adjustment of positions covered by water. (..) Another, more direct support could come from the reduction in the time of payment of trade pay ables of the government (. .) In the same direction could make a temporary suspension of the obligation to pay the TFR to INPS are not intended to pension funds. ”
The mobilization of private savings in residential construction is another point that may help the economy recover.
Also: “The measures to reduce current spending should be introduced in legislation now” starting from the ‘increase in the average effective retirement age will ensure the provision of adequate pensions unit amount. A higher rate of activity in the range from 55 65 years and raise the disposable income of households and the productive potential of the economy. ” However, not underestimating the potential of pension funds that must be mixed and must be subject to less risk as the time of retirement.
Good expectations of even the reform of fiscal federalism which if applied will shorten the time of levy and spending with greater efficiency in the use of public resources, while the introduction of standard costs will complete the picture.
You also have great expectations from the reform of Public Hospitality with a cut in expenditure and greater flexibility in the payment of taxes.