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“It’s something that everybody dreads,” Scicluna said in an interview with Bloomberg Television in Brussels where euro-area finance ministers met on Monday. “Nobody wants to go there.” [...]
Scicluna said the Italian government is “learning and we hope they learn faster for everybody’s sake.” Of the “well-meaning policies” that the government has, “hopefully the good parts remain while the bad parts are thrown overboard,” he said.
While euro-area economies are not expanding as much as “we would have liked, we hope that the negative will not be as deep and bad as it could be,” Scicluna said.