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Economy minister warns change of govt creates risks

First effect of changing pace is stopping, says Saccomanni

16 February, 15:58
Economy minister warns change of govt creates risks (see related stories) (ANSA) - Rome, February 16 - Outgoing Economy Minister Fabrizio Saccomanni warned Sunday that the change of government Italy is in the middle of poses risks.

Democratic Party (PD) leader Matteo Renzi is expected to be given a mandate from President Giorgio Napolitano to try to form a new government in the coming days after he torpedoed the administration led by his party colleague, Enrico Letta, this week.

Renzi said a change was necessary to accelerate much-needed institutional reforms and measures to boost Italy's economy, which is slowly pulling out of its worst postwar recession.

"I think it's important to continue with what's been done and it is possible to accelerate," Saccomanni told Sky television.

"But you have to be careful. When you change pace, the first effect is that you stop while you think about what pace to take". The minister, who is not likely to be asked to stay in his job by Renzi according to media reports, said the next premier should not underestimate the challenge ahead.

"There is growing impatience in our country because people want fast results," said Saccomanni.

"I agree with that, but the Italian economy is like a big oil tanker, you can't turn it around from one moment to the next, you need constant work.

"It important that they do the things that we have set running, in terms of growth and structural reforms". The minister said the new executive would have to keep a close eye on Italy's public accounts.

"Italy has a high debt," Saccomanni said, referring to the national debt of over two trillion euros.

"It we break the 3% deficit-to-GDP ratio, that debt will go up".