Bloomberg News

Italy’s Recession Would be Deeper Without Reforms, Monti Says

March 24, 2012

Italy’s recession would be deeper without the reforms its government is implementing, Prime Minister Mario Monti said.

“I cannot promise growth in 2012, but less recession,” Monti said at a conference in Cernobbbio, Italy, today. “Italy is not in a brilliant situation and the emergency stage cannot be solved in a year.”

The government action allowed spreads to narrow, helping banks, companies and families, Monti said.

To contact the reporter on this story: Sonia Sirletti in Milan at ssirletti@bloomberg.net

To contact the editor responsible for this story: Mike Harrison at mharrison5@bloomberg.net


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