Basically, in the end, when you look at the situation the Italian economy is in, the challenges facing Italy are pretty straightforward. Its public debt is at a very high level. € trillion. Exactly. And its productivity, its productivity growth – so its potential, structural growth – is very weak compared with that of other large European countries.
Those two challenges have nothing to do with the euro, or even Europe. We will see what the Italian Government puts forward as a solution. But they are aware of these challenges: the new Minister of Finance, Mr Tria, spoke about this the day before yesterday.