Help for Greece. Eurogroup approved a three-year package – Polish Radio

                             The condition of the Italian economy deepens the division of the country on the wealthy North and the poor South. When in 2014 Italy’s GDP shrank by 0.4 per cent., Noon economy slowed by 1.3 percent. – Wrote on Monday, “Financial Times”.
                         

– The outlook for the Italian south are increasingly gloomy; The economic gap between the prosperous north and the south biedniejącym deepened after the financial crisis and recession, which was the result – writes the British daily.

– There is growing concern that the South may be cut off from the slight economic recovery, which is come in the third largest economy of the euro zone – warns, “FT”.

Some of the data are especially worrying: the pre-crisis GDP per capita in southern Italy accounted for 56.2 percent. the values ​​in other regions of the country. In 2014 this share fell to 53.7 percent.

The situation is exacerbated structural problems in the south – higher unemployment, a low level of innovation in the local economy, widespread corruption and the gradual depopulation of the region – explains the “FT”.

Italy threatens drastic division

In addition, some factors are specific to this part of the country, as the scale of local enterprises is too small to compete on international markets in the period in which “domestic demand has fallen dramatically and international markets were the only salvation” – continued financial daily.

The whole of Italy are affected by high unemployment, in June, it amounted to 11.1 per cent .; but in a particularly bad position for young people – more than 44 percent. Italians between 15 and 25 years of age have no job.

The magazine “Fortune” recently quoted a report by the International Monetary Fund in late July, where the fund warns that without radical reforms of employment in Italy will return to the level pre-crisis only for 20 years.

With debts Italy close to the Greeks

In addition, the ratio of government debt to GDP in Italy is 133 percent. – Worse than in the euro zone falls just Greece – writes “Fortune”.

The Standard & amp; Poor’s announced recently that Italy threatened to pay the highest price for the debt, since the yield of 10-year bonds the state has increased recently and is 3.5 percent.

The IMF expects the Italian economy will be 0.7 percent. in 2015 and 1.2 percent. next year.

“The Washington Post” pointed out that the last five years have been to Italy “almost disaster”; “After entering the country to the monetary union’s economy has grown by 14 per cent., And then the recession, which came in 2008, and its recurrence in 2011, completely reduced this progress.”

PAP, fko