underpin: sostenere
to move in = muoversi verso
to be under discussion = essere sotto discussione
to be suited to = essere adatto a
to support = sostenre
to apply to = applicarsi a
a need to further = ulteriore bisongo di
to tailor = tagliare su misura
trade union = sindacato
with respect to = con rispetto
through = complessivo
to employ = impiegare - dare lavoro
unemployment =disoccupato
employee = dipendente
to hire = dare in prestito
to set = fissare
policy = politica da parte di un uomo
politics =scienza politica
politician = uomo politico
to easy = facilitare
to allocate = collocare
take a measure = prendere una misura (azione)
insurance = assicurazione
to ensure = assicurare
to consider essential =considerare fondamentale
to front-load = fronteggiare - anticipare
the aim = la finalità
via - through =attraverso, per mezzo di
expenditure cuts = tagli alle spese
further = ulteriormente
eligibility criteria = requisiti necessari
In addiction, besides, then, furthermore = poi, in aggiunta
to consider significantly = considerare importanti
to strengthen = rafforzare
wage = salario, paga
slippages = fuoriuscite
to borrow = prendere a prestito
tight control: sotto stretto controllo
to lend = dare a prestito
debt = debito
in line with = coerente con
going on = in corso
key challenges = sfide chiave
to design = progettare
to this purpose = per questo scopo
enhance = favorire
decisively = in modo decisivo

Analysis

The text is a formal letter sent by the Governing Council of the European central Bank,J.C. Trichet and M. Draghi, addressed to the Italian Prime Minister.
The letter can be divided into four paragraphs.
The first paragraph has an introductory function and it explain the reason of writing. The reason is a necessity of pressure action by the Italian authorities to restore the confidence of investors. It is the result of discussion on situation in Italy's government bond markets.
The second paragraph presents the request to Italian Government emerged after the Government summit of July 2011. The conclusion of summit was "Italy needs to urgently underpin the standing of its sovereign signature and its fiscal sustainability and structural reforms". Also they considers that the steps taken by Italy for the balancing of budget are not sufficient.
The third paragraph has a explanatory function and contains a list of essential measures to take with their further explanation.
The first measure to take is the increase od competition: improve the quality of public services; desing of regulatory and fiscal system more suited to support firms' competitiveness and labour market efficiency. Another important reforms are the liberalization of public services; further reform the wage bargaining system; several reforms in employment's sector and the easily reallocation of resources in view of more competitive firms.
The second important need claimed by senders is immediate and bold measures to
ensuring the sustainability of public finances. They also suggest some examples to take as additional-corrective fiscal measures - to front-load the measures adopted in the July 2011 package by at least one year via expenditure cuts. Another possibility is to intervene in the pension system (retirement age for women in the private sector has to be the same as public employees'). The further step may be the reducing the cost of public employees with strengthening turnover rules and wages reduction. In their opinion the government should also introduce an automatic deficit reducing clause and place the borrows under tight control.
Therefore, the senders insist on measure's taking as soon as possible with decree-laws, followed by Parliament ratification.
The third measure to take immediately concerns the public administration. The Government should improve administrative efficiency and business friendliness; make systematic use of performance indicators; abolition or consolidation of some intermediate administrative layers (e.g. Provinces). Also the exploiting economies of scale in local public services should be strengthened,
The last part is a conclusion expressing the trust in the Italian Government and its future actions.
The language used in this letter is straight, clear and it demonstrates importance of this reforms.