Italy’s Major Economic Challenges: Large Government Debt and Fragile Banks and the EU

Losoncz Miklós (2019) Italy’s Major Economic Challenges: Large Government Debt and Fragile Banks and the EU. In: Identity Crisis in Italy. Dialóg Campus, Budapest, pp. 117-129. ISBN 978 615 6020 66 6

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Abstract

The combination of high gross government debt and the shaky state of the banking sector aggravated by slow GDP growth constitutes the major challenge Italy’s economy and society are facing. It has wider implications for the sustainability of economic development in the long run, as well as for the European Union in general and the Economic and Monetary Union (EMU) in particular since a debt and/or banking crises may endanger the financial stability of the euro area. The response to this challenge is primarily the task of the Italian Government based on short-term measures aimed at easing actual tensions and the implementation of structural reforms to reduce the government debt thereby making the general government more sustainable and raise the potential growth rate of GDP in the long-run. Cooperation with EU institutions, too, may contribute to the upgrading of the process.

Tudományterület / tudományág

társadalomtudományok > közgazdaságtudományok

Faculty

Pénzügyi és Számviteli Kar

Institution

Budapesti Gazdasági Egyetem

Item Type: Book Section
Uncontrolled Keywords: government debt, Italy, sustainability of economic development, EMU, financial stability
Depositing User: Kozákné Szabó Claudia Gabriella
Identification Number: 30881575
Date Deposited: 2019. Nov. 06. 12:25
Last Modified: 2019. Nov. 06. 12:25
URI: http://publikaciotar.repozitorium.uni-bge.hu/id/eprint/1569

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