Carlo Ungaro Head of ECMM

The Council postponed to a future session the election of six experts from African States, one expert from Asian States, two experts from Eastern European States, one expert from Latin American and Caribbean States and one expert from Western European and other States for a term beginning on 1 January 1997.

Carlo Cottarelli, appointed by the Italian government to oversee its expenditure review, noted recently that even before spending cuts were enacted, they were being used to finance new spending. The political economy of public spending reform is tricky, and well designed macroeconomic plans can be taken hostage by pork barrel politics.

11. Since they also wished to obtain information on the situation of human rights and the progress of democratization, the Special Rapporteur and the Consultant maintained close contacts with the diplomatic representatives of the main donor countries accredited in Malabo, particularly with His Excellency Gérald Brunet de Courssou, Ambassador of France, His Excellency José María Otero de León, Ambassador of Spain, and His Excellency Carlo de Filippi, representative of the European Union.

But, beyond such a scorecard, the will to overcome the stagnation trap must be more than a sum of national wills. Germany must be reassured by what is happening in France and Italy conversely, Southern Europeans must be able to trust that their efforts will gain additional traction from greater investment throughout the region, particularly in Germany.

In fact, most professional economists do not seem overly glum about the global economy s prospects. For example, on September 6, the OECD issued an interim assessment on the near term global outlook, written by Pier Carlo Padoan, that blandly reports significant risks on the horizon the language of uncertainty itself.

Memang sudah bisa diperkirakan bahwa pernyataan beliau ini mengikuti upaya berbulan bulan yang dilakukan oleh menteri keuangan dalam kabinetnya, Pier Carlo Padoan, untuk menunjukkan komitmen Italia kepada aturan Eurozone yang didukung oleh Jerman. Renzi memahami bahwa kepatuhan terhadap sifat hemat yang terinspirasi oleh Jerman akan mengarahkan perekonomian dan keuangan publik Italia menuju stagnasi lebih dalam, disertai dengan penurunan rasio utang terhadap PDB.