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Economy min warns uncertainty threatens Italy's recovery

Saccomanni says country is emerging from long recession

05 September, 11:39
Economy min warns uncertainty threatens Italy's recovery (see related stories) (ANSA) - Rome, September 5 - Economy Minister Fabrizio Saccomanni said Thursday that Italy was on its way out of recession, but warned that political uncertainty was putting the recovery in peril.

The Milan stock exchange registered big losses on Wednesday amid fears Premier Enrico Letta's grand-coalition government is in danger of collapsing.

Silvio Berlusconi's centre-right People of Freedom (PdL) party is threatening to pull its support and sink the executive if its alliance partner, the centre-left Democratic Party (PD), votes for the ex-premier to be stripped of his Senate seat after a tax-fraud conviction.

"The process of recovery is taking place and we are coming out of the recession phase," Saccomanni told a press conference at the G20 summit in St Petersburg.

"The political uncertainty is a negative factor, in terms of the return of confidence in the capacity for economic growth".