Isis fears may hit recovery says Squinzi

(ANSA) - Rho-Pero, November 17 - Confindustria industrialists' association president Giorgio Squinzi said Tuesday he "strongly fears" the Paris terror attacks could slow down economic recovery.
    "We have to expect some shakiness but I hope that in the end we'll be able to come out of this," he said on the fringes of the inauguration of the Eicma international bicycle exhibition.
    "It is not easy to give certain replies," he added when asked what he expects from the Italian government, "we have to live a day at a time and keep the barriers high to prevent extremist fringes moving clandestinely".
    "In the immediate it is very difficult to intervene, in the medium and long term Europe is mobilizing - we have to forge an alliance with Africa to raise the standard of living, so that these migrations don't have to be so devastating, specially if it is true that there are 100 million Africans who want to come to Europe, we will not be ready to receive them," Squinzi said.
    Italy "has hooked into the recovery but this is a context that could be thrown into question in coming months if risks of global slow down should appear".
    "Foreign demand that has sustained the Italian economy in recent years could change due to world trade dynamics, with consequences you can imagine for our economy in general," Squinzi said.
    He added: "We believe the stability law for 2016 is in the right direction. Policy is becoming expansionary thanks to the commitment of the government in using all the room for manouvre that Europe has made available on the front of public accounts flexibility as well as the attention to private investment and the reduction of fiscal pressure in favour of firms and workers".