Economic Survey of Italy - Press Review


1. Summary

The OECD economic survey of Italy (published 18 May 2005) received good media coverage.

La Repubblica in its front page lead says the OECD report severely criticises Italy’s economic situation. The paper adds that its forecasts are more pessimistic than those of the Italian government. Il Sole 24 Ore leads with the report’s concern that the Italian economy is growing more slowly than the European average . Low productivity is continuing to raise unit labour costs.

The Financial Times highlighted the OECD severe criticism of the Italian economy. According to the OECD survey Italy has to raise productivity, it needs to keep its public finances under control and to further reform corporate governance.
For The Economist Italy is the real sick man of Europe; the OECD report focussed on the structural weaknesses of the Italian economy which was also picked up by many media including Reuters, World Markets, the French daily La Tribune and German papers like Financial Times Deutschland, Handelsblatt, Frankfurter Allgemeine or Welt am Sonntag. They added that the OECD report called for reforms in order to improve competitiveness and productivity.

Under the headline OECD warns Italy’s Economic Growth Outlook Looks Bleak  the Wall Street Journal highlighted the survey’s concern that the budget deficits should be reduced.
The Swiss daily Neue Zürcher Zeitung refers to the many structural problems identified in the report,  which Le Monde also underlined in one headline.

2. References

La Repubblica
19/05 - "Ue e Ocse bocciano l'Italia"

Il Sole 24 Ore
19/05 - "Ocse: crescita minima, servono tagli strutturali. Salari pubblici adeguati"

Financial Times
19/05 - "OECD report delivers harsh assessment of Italy’s economy"

The Economist
21/05 - "Italy - The real sick man of Europe"; "In need of repair"

18/05 - "OECD sees Italy 2005 growth zero, or worse"
18/05 - "Italy must reform to halt economic decline"

World Markets
19/05 - "Delayed OECD Report Raises Serious Questions over Italian Economic Governance"
La Tribune
19/05 - "L’OCDE presse l’Italie d’engager plus de réformes"

Le Monde
20/05 - "L'OCDE pointe les raisons "structurelles" du ralentissement économique de l'Italie"
23/05 - "En récession, l'Italie est devenue le mauvais élève de l'Europe"

Wall Street Journal
18/05 - "OECD Warns Italy's Economic Growth Outlook Looks Bleak"

Financial Times Deutschland
19/05 - "Italien gerät in gefährlichen Abwärtssog"
19/05 - "Euro-Zone bricht der Süden weg"

Welt am Sonntag
29/05 - "Berlusconi enttäuscht die Unternehmer"

19/05 - "OECD attestiert Italien schwaches Wachstum"

Frankfurter Allgemeine Zeitung
19/05 - "OECD erwartet niedrigeres Wachstum für Italien"

Neue Zürcher Zeitung
19/05 - "Die OECD ruft Italien zu Reformen auf"


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