Bank of Italy Governor & Industry Minister: Crisis in Italy Not Over, Not an Emergency, Still in a Critical State

“SANTA MARGHERITA LIGURE/VENICE, Italy (Reuters) – Italy must push on with reforms to resolve its economic crisis, the industry minister said on Saturday, expressing disappointment at the euro zone’s efforts to resolve the wider sovereign debt troubles plaguing the bloc.

Speaking at two conferences in northern Italy, Industry Minister Corrado Passera and Bank of Italy governor Ignazio Visco said the crisis in Italy was not over.

“The situation is not like it was at the end of last year, when there was an emergency, but remains very critical,” Passera told a conference of young entrepreneurs on the Italian riviera.

“Europe was more disappointing than we expected, it was less capable of tackling a relatively minor problem such as Greece,” the former banker said.”

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