Keeping Italy from falling into a recession!!!

Rome,

Ciao, From Milan one of the biggest cities in Italy, where fashion roars and the people are known for their passion and sensual sense of self.   Today in Rome something very interesting happened…

With economies all over the world failing, Bank’s not lending money and people panicking our government announced that they are “considering offering state guarantees on bank loans to companies to help them get access to credit”.  While on Monday Scajola (our Industry Minister) announced “possible fiscal incentives for the purchase of cars and kitchen appliances to support the industries involved and boost consumer spending."
 
Our Italian government is trying to put money into the hand of our business’ in response to the current threat of a global recession!  Recently in September Ireland fell into a recession and left the European Commission in fear for Spain, Great Britain and Germany fallowing suit.  This is scary for Italian business owners because it puts our people in a state of fear and resistant to spend money. 

Although Italy is an independent economy we are tied to 15 other European countries through the Euro thus, with the current crisis in Spain and Ireland Italians are in fear of inflation and fallowing Ireland into a recession. On September 30th Forbes.com stated that “The GDP of the 27 members of the European Union…contracted in the second quarter, by 0.2%. A recession is traditionally viewed as two consecutive quarters of falling growth.”
 
If our government proceeds with the measures mentioned above hopefully it will spike consumer spending and keep Italy out of the global recession.  So come on Italians let’s keep our country out of this recession and support the efforts of our government…Go Italy!!!!

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