Antonio Patuelli, the president of
Italian banking association ABI, said Tuesday that Italy should
commit wholeheartedly to the European project or risk the
negative fate of some countries in South America.
Patuelli said that Italy's "strategic choice" must be to
"participate more in the European Union" with "greater
commitment in common responsibilities".
Otherwise, he warned, the Italian economy could "end up in
the vortex of a Mediterranean nationalism very similar to the
South American one".
Patuelli said that in Argentina "the discount rate has
reached 40%" adding that "with the Italian lira in the 1980s the
discount rate was 19%".
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