Friday, March 6, 2009

Berlusconi criticized the media for coverage of the crisis.

Prime Minister of Italy Silvio Berlusconi, criticized the media for the bleak description of the global financial and economic crisis. Reported AFP. "Media continues to describe the crisis as something tragic proceeding against the interests of each of the people. This is an exaggeration, because the crisis difficult, but not tragic," - said Berlusconi.
In addition, the Italian Premier also added that Europe has made to confront a crisis far more than any other region of the world. It seems that Berlusconi was referring to a pan-European plan to stimulate the economy, proposed by the European Commission in November 2008. In addition, most EU countries have increased the volume of gosgaranty on deposits in banks and multibillion allocated funds for the maintenance of their economies.
At the end of 2008 the GDP of Italy fell by percentage. This is the worst figure since 1975. This economy is in recession in the third quarter of last year. In November, the trade deficit of Italy compared to the same period in 2007 increased in 3,8 times up to 1078 billion euros. This contributed to reducing the demand for Italian goods from the European Union.

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