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Renzi vows 'shock' measures for economy

Must not waste recovery, PM tells businessmen

05 March, 12:54
Renzi vows 'shock' measures for economy (ANSA) - Siracusa, March 5 - Premier Matteo Renzi on Wednesday vowed "shock measures" to push the Italian economy into full-blown recovery as part of his fast-paced structural reform agenda.

Italy is slowly emerging from its longest postwar recession, with 0.1% growth in the last quarter of 2012 and 0.6% growth forecast this year.

As one of his monthly reforms, Renzi has pledged to cut taxes on payrolls and lower incomes, boost smaller firms, pay back huge government debts to businesses and launch a school-repair and house-building programme.

"They make fun of me because I announce a measure a month but there's no alternative: either we try to implement shock measures to change (the economy) or we'll waste the recovery just as we already wasted the recession," Renzi told businessmen in the Sicilian city of Siracusa.