New Italian PM Calls for Growth, Not Austerity

New Italian Prime Minister Enrico Letta is calling on his country and the euro currency bloc to promote economic growth and end reliance on austerity measures to resolve Europe’s governmental debt crisis.

In his first address to parliament, Letta said that Italy’s economy will die if it continues to rely on cutting government spending.

“We will die of fiscal consolidation alone, after 10 years without growth. Growth policies cannot wait any longer.” he said. …

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