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Squinzi says Renzi has good ideas, but too early to judge

Confindustria head says government actions as important as words

14 March, 18:01
Squinzi says Renzi has good ideas, but too early to judge (ANSA) - Genoa, March 14 - Premier Matteo Renzi has talked about making important changes but his effectiveness cannot be judged until some of those plans are put into action, Giorgio Squinzi, president of large employers' group Confindustria, said Friday. "Undoubtedly, Renzi is a very energetic young person, something like a Formula One engine," Squinzi said on the sidelines of a business conference.

"The problem now is to download that power to make firm and concrete measures that are going in the right direction," he added.

"For now, all we've seen our headlines".

Those headlines describe a promising list of plans from Renzi, including 10 billion euros in personal tax cuts, smaller reductions to business levies, and a pledge to pay off 68 billion euros in outstanding bills, said Squinzi.

"Let's say for now that we have seen a list of intentions that seem to be going in the right direction," he said.

But to revive the Italy's lackluster economy, the government must lower labour costs while reforming the labour market, pay off debt, and simplify the complex system of regulations, "which for me is the top priority," said Squinzi.