The Economist: Romania might economically outrun Italy by 2020

Romania might outrun Italy in economic terms, by 2020, if current Italian tendencies will remain unchanged, The Economist informs in its electronic edition in an analysis on Italy after legislative elections won by Berlusconi. In 2006, Italy was surclassed by Spain and next year it could be surclassed by Greece. LSE Economics Dr. Francesco Grillo suggests that if Italy’s economy remains unchanged, Romania has every chance to outrun it.

Italy’s future depends a lot on the economic path to be chosen by Berlusconi, the Economist analysis argues. Moreover, the analysis takes into account the IMF estimations recently published which show a decrease in the Italian economic development rate for 2008 and 2009. According to IMF predictions, Italy will have the lowest economic growth rhythm in the G8.

In the euro zone, Italy has every chance to enter recession in the upcoming 12 months. After 12 years, Italy is for the same time below the average of the 27 member states, the Economist notes. Plus, The Economist analysis is skeptical that Berlusconi will push for Liberal reforms.