Italy would still be in recession
if it were not for the European Central Bank's quantitative
easing (QE) programme and the downturn would have lasted until
next year, Bank of Italy Governor Ignazio Visco said Thursday.
"The Italian recession would not have finished until 2017
without the measures taken by the ECB between June 2014 and
December 2015," Visco said in Frankfurt, referring to Bank of
Italy estimates.
Italy's GDP rose by 0.8% in 2015 after three years of
negative growth.
The general adoption of several contract renewals signed
in Italy lately "would significantly lower the rate of growth of
wages, and that would be reflected in turn on the dynamics of
inflation," Visco added.
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