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Brief, Italy in the global economy

Brief, Italy in the global economy

In the medium term, rising global public and private debts may hold back average growth. In the EU, the Next Generation EU proposal may fall short of the European Commission's objectives and deprive hard-hit countries of important support. In the US, labour market recovery may prove more difficult than expected. In Europe, the risk is that the temporary measures are only deferring the moment when unemployment will hike. Political and trade conflicts between the US and China and a disorderly Brexit (without trade agreements with the EU) could further limit and fragment global trade. The sharp increase in Italy’s public debt could generate tensions in financial markets and further complicate the recovery. […]