Arab Today, arab today big business unions plead for italy political deal
Last Updated : GMT 17:02:01
Arab Today, arab today
Arab Today, arab today

Big business, unions plead for Italy political deal

Arab Today, arab today

Arab Today, arab today Big business, unions plead for Italy political deal

Rome - AFP

Big business and trade unions in Italy are pleading for a swift end to a political deadlock that may already have cost the economy 1% of gross domestic product. The main employers' lobby Confindustria and the powerful unions rarely see eye to eye. But the economic and political crisis are pushing them together more than ever before. A general election in Italy in February was narrowly won by the left but no party has been able to form an overall majority in parliament, stalling the creation of a government. Susanna Camusso, leader of Italy's biggest union, the CGIL, has warned that the country is being swept by "a perfect storm" in its worst recession since the post-war period. With unemployment at near record highs, she has called for up to 1.0 billion euros ($1.3 billion) to be set aside by the government to pay redundancies and avert social disaster. Confindustria head Giorgio Squinzi has also issued increasingly drastic warnings to ask bickering political parties to set aside their differences and form a new government. "If businesses close, the country dies," he said at a conference on Saturday, ahead of a key week for politicians who will have to vote on a new president in parliament from Thursday. Analysts say some common ground may emerge this week as the successor to 87-year-old President Giorgio Napolitano has to be voted in with at least a majority in parliament. The economy meanwhile is in a terrible state. More than a million people lost their jobs last year -- a 14-percent increase from 2011. Unemployment is at 11.6 percent and the youth jobless rate has reached 37.8 percent. Suicides linked to economic hardship have increased sharply over the past year. This month, a couple in their 60s hanged themselves because they could no longer afford the rent -- a case that shocked the nation. The wife was on a pension of 500 euros a month, while her husband had no revenue because he was made redundant before reaching the minimum age for a pension. The desperate situation faced by many in a previously stable middle class in the eurozone's third largest economy is ringing alarm bells for Confindustria and the unions. "We are all in the same boat and we have to row in the same direction," Squinzi said. The new government must be made up of "people of good will who have their country's interests at heart and can extricate it from the quicksand," Squinzi has said. "The real economy is not waiting," he said, adding that the delay had already caused the economy to lose one percentage point of GDP. Camusso has also called for change and blames the current social crisis on austerity imposed by outgoing Prime Minister Mario Monti. "If we do not put on the brakes (on austerity), the decline will continue," Camusso said earlier. She said the tax burden faced by both businesses and workers is becoming "unsustainable" and will hit a particularly critical point in June and July. Aurelio Regina, the deputy head of Confindustria, said: "We are walking on the edge of a volcano. The danger is that part of our industrial system will be destroyed. Walter Passerini, a columnist for La Stampa daily, has advocated a type of "shock therapy" that could put growth and jobs back at the centre of the political agenda. Despite all the doom and gloom, some business owners are trying to stay optimistic. Italy "can go quickly from being bottom of the class to first," said Paolo Ronchetti, owner of Equilibrium, a small business making environmentally-friendly construction products. He added: "It's just a question of patience, of working well, of making things that are high quality and the results will come."

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today big business unions plead for italy political deal Arab Today, arab today big business unions plead for italy political deal

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Turkey says ends its military operation

GMT 07:53 2017 Thursday ,30 March

Turkey says ends its military operation
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today 'Underwater wasteland' worries

GMT 10:32 2017 Thursday ,30 March

'Underwater wasteland' worries
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Mercedes, VW recall million vehicles in China

GMT 09:16 2017 Wednesday ,29 March

Mercedes, VW recall million vehicles in China
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Singer Rowida Attiya will issue a new song

GMT 07:38 2017 Tuesday ,28 March

Singer Rowida Attiya will issue a new song
Arab Today, arab today Trump moves to roll back Obama climate measures

GMT 08:39 2017 Wednesday ,29 March

Trump moves to roll back Obama climate measures

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 07:50 2017 Thursday ,30 March

Breaking trans barriers one barbell

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday