{"id":19296,"date":"2020-06-14T13:21:04","date_gmt":"2020-06-14T10:21:04","guid":{"rendered":"https:\/\/bestinsurance.gr\/a1\/?p=19296"},"modified":"2020-06-14T13:21:04","modified_gmt":"2020-06-14T10:21:04","slug":"italy-urged-by-eu-leaders-to-use-recovery-plan-for-reforms","status":"publish","type":"post","link":"https:\/\/bestinsurance.gr\/a1\/archives\/19296","title":{"rendered":"Italy Urged by EU Leaders to Use Recovery Plan for Reforms"},"content":{"rendered":"<p>European Central Bank President Christine Lagarde and European Commission President Ursula von der Leyen are among leaders urging Italy to take advantage of the region\u2019s proposed 750 billion-euro ($844 billion) recovery plan to speed up structural reforms.<\/p>\n<div class=\"hardwall\" data-position=\"1\"><\/div>\n<div class=\"softwall\" data-position=\"1\"><\/div>\n<p>The so-called Next Generation EU plan is a \u201cunique opportunity for Italy,\u201d Von der Leyen said in a video message to a closed-door forum in Rome hosted by Italian Prime Minister Giuseppe Conte, posted on the prime ministry\u2019s website.<\/p>\n<div class=\"hardwall\" data-position=\"2\"><\/div>\n<div class=\"softwall\" data-position=\"2\"><\/div>\n<p>Lagarde\u00a0<a title=\"Link to speech\" href=\"https:\/\/www.ecb.europa.eu\/press\/key\/date\/2020\/html\/ecb.sp200613~890270bad1.en.html\" target=\"_blank\" rel=\"nofollow noopener\">encouraged<\/a>\u00a0leaders \u201cnot to let this crisis go to waste,\u201d while the central bank will do its part. EU Commissioner for Economic Affairs Paolo Gentiloni said that while the spending plan is designed to avoid counter-cyclical recessions, it must ultimately bring Italy\u2019s 2.43 trillion-euro\u00a0<a class=\"terminal-news-story\" title=\"Italy March Debt Fell by EU15.833 Billion: Summary (Table)\" href=\"https:\/\/www.bloomberg.com\/news\/terminal\/QAD5TBT0G1L4\" target=\"_blank\" rel=\"noopener\">debt<\/a>\u00a0into a \u201ccredible downward path.\u201d<\/p>\n<div class=\"hardwall\" data-position=\"3\"><\/div>\n<div class=\"softwall\" data-position=\"3\"><\/div>\n<p>Conte on Saturday kicked off the nine-day marathon session of closed-door talks between ministers and leaders from the business, finance, labor and other sectors. The Italian premier is facing internal opposition, even in the governing coalition, on stimulus measures tied to the EU recovery plan as the economy struggles to emerge from a national lockdown to counter the coronavirus.<\/p>\n<div class=\"hardwall\" data-position=\"4\"><\/div>\n<div class=\"softwall\" data-position=\"4\"><\/div>\n<p data-tout-type=\"story\">Italy\u2019s Canceled Crisis Risks Moral Hazard for Euro Laggard<\/p>\n<div id=\"desktop-in-article-1-QBV46PT1UM1601\" class=\"page-ad\" data-position=\"desktop-in-article\">\n<div class=\"desktop-in-article-ad-dummy\"><\/div>\n<\/div>\n<p>Conte welcomed participants by mapping out Italy\u2019s plan for the recovery, which will include investments to digitize the economy and the public administration, green spending and ways to boost social inclusion, according to the premier\u2019s office.<\/p>\n<p>\u201cWe know our public finance limits, the need to keep our finances in check,\u201d Conte told the forum held in Villa Pamphili. \u201cThat\u2019s why we can\u2019t miss the chance to revamp productivity in our country.\u201d<\/p>\n<h3 id=\"not-easy\">Not Easy<\/h3>\n<p>European Council President Charles Michel warned that talks over the EU recovery plan won\u2019t be easy as there are \u201csignificant divergences,\u201d adding that Italy\u2019s effort to produce a plan of investments and reforms is fundamental for Europe.<\/p>\n<p>Conte, at a press conference later, also said more time is needed to reach a consensus and he invited Italian opposition parties to work with their European counterparts for the common goal.<\/p>\n<p>Bank of Italy Governor Ignazio Visco asked Italian leaders to \u201cmake the most of the opportunities offered by the new European programs,\u201d according to the text of his speech.<\/p>\n<p>\u201cThe sustainability of the public debt is not in doubt, but its high ratio to GDP is being maintained by the low growth potential of the country and is, at the same time, an obstacle to economic growth,\u201d he said.<\/p>\n<p><em>\u2014 With assistance by John Follain<\/em><\/p>\n<div class=\"trashline\">(Adds comment from Premier Conte in seventh paragraph.)<\/div>\n","protected":false},"excerpt":{"rendered":"<p>European Central Bank President Christine Lagarde and European Commission President Ursula von der Leyen are among leaders urging Italy to take advantage of the region\u2019s proposed 750 billion-euro ($844 billion) recovery plan to speed up structural reforms. The so-called Next Generation EU plan is a \u201cunique opportunity for Italy,\u201d Von der Leyen said in a<\/p>\n","protected":false},"author":1,"featured_media":19298,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[],"class_list":["post-19296","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-1"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/19296","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/comments?post=19296"}],"version-history":[{"count":1,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/19296\/revisions"}],"predecessor-version":[{"id":19297,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/19296\/revisions\/19297"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/media\/19298"}],"wp:attachment":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/media?parent=19296"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/categories?post=19296"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/tags?post=19296"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}