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Italy under EU observation over excessive imbalances

Problems include high debt, low competitiveness

05 March, 12:46
Italy under EU observation over excessive imbalances (ANSA) - Brussels, March 5 - The European Commission (EC) announced Wednesday that it is conducting "specific monitoring" of Italy over its economy's "excessive macroeconomic imbalances". These imbalances include high debt, low competitiveness and inadequate structural adjustments. Further steps will be decided in June, the EC said.

"Italy must address its very high level of public debt and weak external competitiveness," the EC said. "Both are ultimately rooted in the country's protracted sluggish productivity growth and require urgent and decisive action to reduce the risk of adverse effects on the Italian economy and of the euro area".

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