Trichet wrote secret letter to Italian govenment

Author: Gerry Davies | Category: Central Banks

According to Milan daily Corriere della Sera, ECB President Trichet wrote a secret letter to the Italian government last week “dictating” what they should do in the way of economic reforms.

The letter set out what measures should be taken and gave a timetable for their implementation.  Apparently the letter asked for rapid privatization of municipal assets, liberalization of various sectors and offered detailed suggestions on how to loosen Italy’s employment laws.

The letter was co-signed by Mario Draghi who is to take over from Trichet later this year.