Economy Minister Tommaso Padoa-Schioppa announced a downward revision of growth estimates for Italy is "likely for next year and for years to come." On the sidelines of Ecofin, the minister explained that " from July to now the result is a less positive picture for the future well in an environment of good performance." Padoa-Schioppa announced the launch of the budget on September 28.
downward revision of growth next year, so, even in a good situation for the world economy for that European, and therefore also the Italian, said the minister.
Referring to the trend in international markets due to U.S. mortgage crisis, the holder of Economy said that "what 'will produce a downward revision, not immediately, but probably for the next year and years to come." Padoa-Schioppa would prefer not comment on the reflections in particular for the financial law of a forecast of lower growth and on the possibility of subsequent corrective action . from TGFin
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