Virtue's poor reward

Article Abstract:

Italy has been affected by a drop in exports which could be linked to the exchange rate between the Italian lira and the euro, as well as problems in Asian markets. A cut in the budget deficit is also likely to affect economic growth, and slow growth in turn makes it more difficult to reduce the deficit. Exports could be helped by a recovery in markets in Asia, and a drop in interest rates could help to push up investment. Reforms are needed, such as changes to the pension system, but there is a case for delaying reform.

Economic Programs, Administration of Economic Programs, Economic policy, Fiscal policy

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Live now, live later

Article Abstract:

Italy is experiencing a severe deficit in funding for its widespread government pension plan. Pension benefits were made more widely available in the 1950s with no corresponding tax increase to fund the plan. The system must be reformed by increasing pay in to the plan and cutting benefits.

Pensions

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