Q. What is the economic and political outlook for Italy?
A. [Italy's GDP growth] has finally become positive. It is in the [low] range, but it is a clear change. The macroeconomics of Italy are quite robust, with the only exception being the debt-to-GDP ratio. But if you look at total debt, formed by sovereign debt plus corporate debt and personal debt, this is very low. It is aligned with the average for the eurozone, far lower than in the US and a fraction of the Japanese level.
