EU says 11 states face economic imbalances, Italy exposed to higher risks

The European Commission said on Wednesday that 11 European Union states were experiencing economic imbalances that should be addressed and from among these Italy, Cyprus and Croatia had “excessive” imbalances.

The EU executive’s warning is part of the regular monitoring process of European economies and coincides this year with inconclusive elections in Italy on Sunday which delivered a hung parliament.

While the European economy is growing at a sound pace, some countries remain exposed to risks if they do not carry out structural reforms, the Commission said.

In the case of Italy, “high government debt and protracted weak productivity dynamics imply risks with cross-border relevance,” the EU executive said.

The Commission welcomed recent reform efforts, especially in the banking sector, by Italy’s outgoing government but noted that “the reform momentum has somehow slowed.”

Bulgaria, France, Germany, Ireland, the Netherlands, Portugal, Spain and Sweden are the other eight states that need to address economic shortcomings.

Slovenia has been removed from the list of countries experiencing imbalances.


This article has been posted by a News Hour Correspondent. For queries, please contact through [email protected]
No Comments

Translate this News

Join the Facebook Group

Click here to join the Facebook group of News Hour

Popular Posts

Sacred Games exposes Rajshri Deshpande nude [video]
Paperfly launches delivery services covering 64 districts in Bangladesh
One child dies of pneumonia every 39 seconds
BRAC Sierra Leone receives 2018’s “Most Outstanding NGO Award”
Arial Beel: A hub of natural beauty and resources in Bangladesh
Pathao and Banglalink signs MoU for promising future collaborations


News of the Month

Scroll Up
%d bloggers like this: