Nov. 18 (Bloomberg) -- European Central Bank Executive Board member Lorenzo Bini Smaghi said that Italy’s new government should focus on cutting debt and spurring economic growth.
International investors are focusing on whether the government can take action to boost the economic expansion to reduce the euro-region’s second biggest debt in a country where growth has lagged the European average for more than a decade.
He warned that imposing a wealth tax could hurt investment and spending in Italy.
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