Italy to come up with a recovery plan
The EU is demanding from Italy to present a recovery plan for its crumbling economy.
Italy will present a recovery plan to the European Union by mid-October, says its prime minister. Prime Minister Giuseppe Conte told the newspaper Il Fatto Quotidiano that the government was identifying investment and reform projects that would tie in with EU financial support and that he supported the demands of former ECB President Mario Draghi to build instruments that would lead to more stability should lead in the euro zone. Last month, Conte - facing an investigation into his handling of the COVID-19 crisis - described the EU's stimulus plan as an opportunity to "change the face of the country" and "seize the opportunity to regain strength kick off". He expected 28% of the € 750 billion agreed by the EU to go to Italy - around € 209 billion. "Now we have to use these funds for investment and structural reforms," he said. "We have a real opportunity to make Italy greener, more digital, more innovative, more sustainable and more inclusive. We have a chance to invest in schools, universities, research and infrastructures," he said.