Italy's industry leader says govt crisis would be 'crazy'
Businesses say Italy risks going back into 'negative spiral'27 September, 18:35
"With all the sacrifices the Italian people have made in the last two, three years in terms of taxes and everything else, putting all that in jeopardy today seems crazy to me," said Confindustria President Giorgio Squinzi.
Squinzi was referring to the austerity policies Italy adopted under the emergency technocrat government of Mario Monti between 2011 and early this year after the country risked a Greek-style financial meltdown at the peak of the eurozone crisis.
Earlier on Friday Confindustria and other major Italian business bodies, including banking association ABI and insurance association ANIA, issued a statement calling for government stability, saying a crisis risked thrusting Italy back into a downward negative spiral just as it appears close to emerging from its longest recession in over two decades.
"A government crisis now would cause extremely grave damage to Italy, and risks throwing it back into a downward negative spiral, with major consequences for families and companies," read a joint statement released by Italy's Banking Association ABI, insurance association ANIA and industrial employers' confederation Confindustria, among other groups.