CRISIS. SANTORO: ITALY NEEDS A RADICAL ECONOMIC POLICY

CRISIS. SANTORO: ITALY NEEDS A RADICAL ECONOMIC POLICY

“I do not think that GDP tells us all about how we are, but it certainly gives us a quite consistent picture about economic reality,” began Manuel Santoro, national Secretary of the “Socialist Convergence” Party.

“The GDP is certainly not able to take into account the qualitative terms of life,” says Santoro, “but it tracks pretty good quantity trends of the Italian economy, which is likely to stay glued to the pole.”

“Economic growth, today, is missing and we have to take note of a flat or negative growth path. In 2009, in the midst of economic crisis, the nation remained shocked by a percentage change of GDP per annum of -5%. Minus 5%, an enormity.”

“We recovered, luckily, a 1.3% and 0.4% in the following two years,” says Santoro, “but since 2012 we are steadily in a decreasing phase with a change of -2.4%, and -1.8% in 2013.”

“Today, unfortunately, after several vaguely optimistic ads forecasting a better GDP,” insists Santoro, “we find ourselves having to deal with a possible technical recession and a possible economic maneuver in extremis to year-end. And it is no doubt true that having a change in percentage points close to zero after a few years of decline would amount to a substantial improvement, but Italy is in urgent need of an radical economic policy which could be able to lift it up again.”

“He does not need, instead,” concludes Santoro, “palliatives aimed at consolidating increasing and severe forms of poverty.”

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