Italian reforms good start but more needed, says Gallo

Italian reforms good start but more needed, says Gallo

Alberto Gallo, Head of European Macro Credit Research at RBS, was guest on CNBC's Closing Bell this week. He talked about the Italian government's announcement of new wide-ranging set of reforms.

Economic Analysis

19 June 2013

Alberto's view is that, on balance, the reforms are a good starter, but more importantly Italy needs to shake up its two-tier labour markets, where flexibility only applies to young employees. The government also needs to increase support to small businesses and recapitalise its weak banks, or resolve them.

Electoral reform will also be key to prevent another hung parliament at new elections, which our European credit strategy team expects next year. He also shared his views ahead of the two-day meeting of the Fed's Open Market Committee.

Alberto Gallo talks on CNBC

More expert views on our Insight Hub.


Latest news

RBS to help 2.5 million people each year to be more financially capable

RBS has today committed to helping 2.5 million people in the UK each year to improve their financial capability.

RBS to increase lending to sustainable energy sector following £1.1bn securitisation of loans to UK sustainable energy market

RBS has executed a £1.1bn securitisation deal with Macquarie Infrastructure Debt Investment Solutions (MIDIS), which will allow the bank to recycle capital and increase lending to the sustainable or renewable energy sectors.

RBS launches £1 billion Female Entrepreneurship Funding and announces targets to help create at least 50k new businesses by 2023

RBS has today announced a new £1 billion in funding through NatWest to support female entrepreneurs in the UK to scale and grow – the largest intervention by a UK lender focused specifically on female-led businesses.

Set Tab for lightbox