Considering text type, it is a formal letter written by Jean Claude Trichet ( President of the ECB) and Mario Draghi ( Governor of the Bank of Italy and next ECB president) to the Italian Prime Minister on August 5^th.

 Right from the first paragraph its function is to introduce the situation in Italy's government bond markets and to explain the reason for writing.

Going on the second paragraph advances  the thesis of the letter  through a request. In particular, the governing council considers that Italy needs urgently to underpin the standing of its sovereign signature and its fiscal sustainability and structural reforms. In addition, the statement speaks about the steps taken by Italy, that are important, but not sufficient.

The third paragraph deals with a list of urgent needs for Italy; every explanation develops through points from a to c, in order to make the measures to be taken clear.

The first need is to increase competition and to better design  regulatory and fiscal system to support firms' competitiveness and labour market efficiency. To the purpose reform strategy is needed and further reform in the collective wage bargaining system and review rules regulating the hiring and dismissal of employees are necessary. The second need is to take immediate and intelligent measures to ensuring the sustainability of public finances, need which is justified with reference to different points. The third need has the function to warn of the reform's dead lines.

In  the conclusion of the letter, the Governing Council of the European Central Bank expresses trust in the Italian government that will surely be able to take all the appropriate actions required. The language used goes straight  to the point and  is very clear thus reinfiorcing the importance of the needs illustrated.