ECB'S DRAGHI-MANAGEMENT OF FINANCIAL CRISIS SO FAR HAS NOT BEEN SMOOTH, HAS INCREASED MARKET UNCERTAINTY
MANAGEMENT OF SOVEREIGN DEBT CRISIS MUST HAVE MORE CERTAINTY TO ENSURE STABILITY OF EURO AREA
NEED TO DEFINE POLITICAL OBJECTIVES, DESIGN OF INSTRUMENTS, AMOUNT OF RESOURCES AVAILABLE
MKT TENSIONS HIGH, COUNTRIES UNDER EU/IMF ADJUSTMENT PROGRAMMES MUST CONTINUE CONSOLIDATION EFFORTS
WEAKER EURO ZONE COUNTRIES WILL IN FUTURE NOT BE ABLE TO BENEFIT FROM LOWER BORROWING COSTS OBTAINED THROUGH CREDIBILITY OF STRONGER STATES LIKE GERMANY
ITALIAN GROWTH RATES LIKELY TO REMAIN BELOW LEVELS OF MAIN EUROPEAN PARTNERS OVER MEDIUM TERM
ITALIAN GOVT AUSTERITY MEASURES AN IMPORTANT STEP FORWARD, WILL PRODUCE SIGNIFICANT PRIMARY BUDGET SURPLUS THIS YEAR
ITALIAN GOVT MUST RAPIDLY DEFINE FURTHER MEASURES TO MEET GOAL OF BRINGING BUDGET INTO BALANCE BY 2014
NEED TO CONTINUE TO CUT SPENDING, OTHERWISE WILL BE FORCED TO RAISE TAXES IN 2013-14
ITALY MUST RAISE GROWTH POTENTIAL IN ECONOMY WITH CREDIBLE STRUCTURAL REFORMS, COHERENT ACTION BY POLITICANS, BUSINESS