Cutting Italy's huge debt is
"unavoidable", said Bank of Italy Governor Ignazio Visco in a
general meeting in Rome on Friday.
"The reduction in the ratio of debt to GDP remains the
unavoidable challenge for our country: its speed depends on the
return to a stable and sustained growth", said Visco.
Italy's debt-to-GDP ratio is the second largest in the euro
zone next to Greece, at approximately 133%.
Visco added that "significant results" have been achieved
and "we are close to a structural balance of public finances."
According to national statistics agency ISTAT reports in
early May, the country's GDP dropped 0.1% between January and
March compared with the same quarter in 2013.
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