Italy Critical For Euro Zone's Future - Fitch
JANUARY 18, 2012, 5:12 A.M. ET

MILAN (Dow Jones)--Italy's technocrat government needs to adopt fiscal and structural reforms to improve its growth prospects and recover investor confidence in the country, a Fitch Ratings senior director said Wednesday.

"Italy is absolutely critical for the future of the euro zone," Edward Parker told a seminar organized by the credit ratings agency, MF-Dow Jones reports.

"With the [former Prime Minister Silvio] Berlusconi government an opportunity was lost to do reforms at a more favorable economic moment," he said.

Although the country's economic fundamentals haven't changed since the summer, the perception of investors has worsened, he said.

Fitch has Italy at A+ with a negative outlook. On Dec. 16, it warned it may downgrade Italy and other euro-zone countries.

Such a move would follow Standard & Poor's cut of Italy's sovereign credit rating to BBB+ from A last Friday.

Italian Prime Minister Mario Monti's technocrat government is preparing a package of measures to liberalize professions and improve the country's infrastructure.

It aims to foster economic growth and create jobs after having imposed tough fiscal reforms.

-By Gianluca Fontanella, MF-Dow Jones; Gilles Castonguay, Dow Jones Newswires; +39 02 5821 9908; gilles.castonguay@dowjones.com; Twitter: @GRCastonguay

FrogFryer wrote:

"Italy is absolutely critical for the future of the euro zone,"

Yup, they're fucked.

those Jersey Shore bastards should have been killed by the Mafia

fuckers FAILED US

Fitch has Italy at A+ with a negative outlook. On Dec. 16, it warned it may downgrade Italy and other euro-zone countries.

I wonder who the euro's will blame once Fitch starts downgrading? Or will they try and hang that on the USA too?

Then the euro zone's future is bleak.

Portugal will default withing weeks of Greece defaulting. Then there will be much pomp and circumstance about saving Spain. The eurocrats and Spain's top politicians will proclaim that Spain will not default. Within weeks of those proclamations Spain will default. Same scenario for Italy. Then the euro breaks up. It will be a fun and interesting four months.

BurnParis wrote:


I wonder who the euro's will blame once Fitch starts downgrading? Or will they try and hang that on the USA too?

You know Europe's traditional motto: "When the going gets tough, blame the Jews".

So Your-up is now counting on :

1) serious reform from the Greeks
2) generosity and selflessness from the Germans
3) integrity and courage from the fronch



What could possibly go wrong?

Nice ti-tays.