Squinzi says Italian business continues to feel despair
Signals of economic recovery remain weak, says business group09 December, 14:12
"The signals of recovery are weak and (businesses) cannot grasp these with any particular optimism," said Squinzi.
"Around businesses I see so much despair," he added.
Continued difficulties in obtaining credit, uncompetitive labour costs, and sluggish payments to businesses from government for work performed are all contributing to the despair felt by many businesses, said Squinzi.
The government of Premier Enrico Letta and some economists have predicted the Italian economy is likely already emerging from recession but that has not led to optimism.