Riforme, Ripresa, Rilancio. Europa e ItaliaBy Marco Fortis and Alberto Quadrio Curzio Il Mulino - Jannuary 2016
In this volume, Fondazione Edison’s fifth since the beginning of the crisis, the authors retrace the major events from April, 2014 to September of 2015 through their articles published in the newspapers Il Sole 24 Ore and Il Messaggero. With regard to Europe and Italy, the authors evaluate the situation and the desired economic measures to definitively come out of the crisis. The theory is that Europe and Italy are recovering, but that without reforms there will be no relaunch that leads to sustainable growth with an orderly strengthening of the real economy, which has been weakened by the crisis and fiscal severity. Investment, infrastructure, and industry are the engines of the relaunch, which can not be solely entrusted to non-EU exports. Structural and governance reforms are also crucial. This is especially true in Italy, to control its public debt and make its public administration more efficient. In Europe, these reforms are needed to avoid a Germanic monologue where rigour destabilizes economic policy, de facto entrusting the BCE with the task of avoiding stagnation. The authors conclude their analysis and proposals with a vote of confidence for Europe and Italy both in terms of the economy and the levels of civil society.