Premier Matteo Renzi said Thursday that austerity was "madness" and the European Union needed to move in a new direction that puts emphasis on public investment as an engine for growth and job creation.
"By putting things right in Italy we give a clear direction to the EU," Renzi said as he inaugurated the new 'Guadrilatero' highway infrastructure at Colfiorito in the central region of Umbria.
"Italy is leaving behind things left half done and it can go to Europe and say we must invest more in infrastructure and end austerity," he said. "We must accept that this was cultural madness, more than economic madness".
Renzi said later in the day that his cabinet had approved a measure to speed up paperwork on major job-creating public works so they will get fast-tracked instead of bogged down, as notoriously often happens in Italy. "An investment that creates 300 jobs will get fast-tracked from now on," the premier said.
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