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Italy: A Matter of Incentives
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[摘要] for one reform that is moving into the fast lane— tax reform— there is another, pension reform, that seems to be slowing down by the day. we still believe that the italian cabinet will eventually deliver a document not too different from the one currently debated in the senate, but we have to acknowledge that progress made on this front has been slower than originally anticipated. our conclusion is that the present european policy framework ? more discretionary budget policies within a monetary union ? provides too little incentive to enact bold and unpopular reforms.
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