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Italy in difficult recession, says Confindustria chief

October 4, 2012 Ansa
Italy is in a recession that will be hard to get out of, the president of Italy's industrial employers' confederation Confindustria, Giorgio Squinzi, said on Thursday.

Speaking at the general assembly of the Italian shipowners' association Confitarma, Squinzi said that "the figures reflect a very difficult scenario for the future...very difficult".

"We can and we must be ambitious and aim for a robust pace of growth, at least 2% per year. It is a difficult goal, but not impossible". Squinzi, who took over the helm of Italy's powerful policy-shaping confederation in May told assembly attendees that "it is time to change the pace. I believe that Italy has all the potential needed to return to growth".
Company — Italy
  • Full name
    Italy
  • Registration country
    Italy