Thursday, February 20, 2014

Roubini: Renzi the right man to reform Italy, but it needs a strong government

Source Il Sole 24 Ore

The time to act quickly and talk less because Italy very fragile , and Matteo Renzi just the man to do this. a strong leader has vision , ability , charisma and leadership to create the political conditions to implement the necessary reforms. so that Nouriel Roubini , renowned economist , a professor at New York University, the chairman of the board in charge of the weight of a "game changer ." In an exclusive interview with Il Sole 24 Ore, Roubini , in Rome for a conference on the future of the eurozone , defines Renzi young, dynamic , energetic, with good ideas, centrist , which can succeed in creating a coalition able to make changes radicals necessary for Italy . Despite the qualities that recognizes Renzi Roubini , the economist , known around the world under the name of " Mr. Doctor Doom" , also believes that for one person alone is not enough to do all the work on the reforms needed cohesion in the coalition , and serves a strong government .
For Roubini there ' a huge gap between the center-right and center-left on the necessary reforms to Italy. The long list . And to the question where to start Roubini has clear ideas : Italy needs to change the electoral system as the first institutional reform , but what about the economy , Italy should definitely increase the growth potential and productivity . To do this we must begin by reducing the tax wedge . Roubini for every euro saved by the spending review should go to reducing the tax wedge . In addition, the labor market has become more flexible. Roubini believes that Italy has made significant progress on the rigor of public accounts keeping the deficit below 3 %, but the public debt at 130% of GDP could rise even if c ' sufficient growth .

Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics
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