Padoan said that Italy is recovering but insists on the need for reform – Yahoo Finance Spain

Brussels, Jan 26 (EFE) .- The Italian Minister of Economy and Finance, Pier Carlo Padoan, said today that “the Italian economy recovers”, but acknowledged “It is important to continue and insist with the structural reform agenda.”

“There is empirical evidence that the Italian economy is recovering, with growth of employment and permanent contracts that confidence is returning citizens, “he said Minister of Economy of the Government of Prime Minister Matteo Renzi, in the European Parliament (EP).

Padoan appeared before the EP Committee on Employment his proposal to create a system of unemployment insurance in Europe, announced last October, and that the EP has analyzed in a report.

In this report, the Research Centre of the European Parliament (EP) concluded that this mechanism would provide the union Economic and monetary “greater stability in the medium and long term” and that, in operation, would have reduced the fall in GDP in the Member States most affected by the crisis in 71,000 million euros between 2009 and 2012.

The president of the Parliamentary Committee on Employment, Thomas Händel, showed his support for the proposal, calling it a “powerful automatic stabilizer” in the eurozone, although members of the Commission sought clarification on the operation of the mechanism, particularly in terms of funding.

The minister said that the fund would be financed by Member States with public nature or “any collection instruments,” upon which the states themselves can decide.

“The important thing is that there are national contributions, public and private instruments that can reinforce the mechanism designed to facilitate adjustment of the labor market compared to cyclical shocks,” he said.

“The financial crisis that began in 2007 has made tremendous social consequences, including high unemployment, severe not only for its absolute value but for its extension in time, “said Padoan, for whom long-term unemployment must be addressed with specific mechanisms.

In the debate some members of the House raised reluctance to unemployment programs are not driven by the Member States themselves.

They also raised the minister concern about the fight against female unemployment, which “is not specifically directed” system proposed by Italy, although “it is the hardest area to be solved,” admitted Padoan

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