This paper assesses the limitations that the Stability and Growth Pact has imposed on Italy’s economic recovery and its debt reduction. By evaluating Germany’s fiscal policy since 1997, the paper offers recommendations for the Italian authorities. Measures put forward by European Union...

The dramatic impact of the 2008 crisis on the Italian economy led to policy responses including structural reforms and labour market liberalisation to reverse the worrisome output and employment trends. A key action by the Italian government, the evocatively named Jobs Act of 2014, has deeply...

Italy is presently one of the most vulnerable economies in the eurozone. Over the past twenty years it has failed to adapt to increasing global competition and its public finances have deteriorated dramatically. Even with huge fiscal support from the other members of the eurozone, Italy’s...