The text is a formal letter sending from The Governing
Council of the European central Bank to the
Italian Prime Minister.

The first paragraph includes the introduction and
explanation about the reason for writing.

In the 2^nd paragraph they discuss on the Government Summit of 21
July 2011 and they underline the Italy's need to underpin the standing of its sovereign signature
and its fiscal sustainability and structural reforms.

In the next paragraph, an explanatory part, there is a
list of the urgent needs.

Need 1) Competition
increase public services quality improvement, Regulatory and fiscal system
design more suitable to support firms' competitiveness, labor market
efficiency.

Need 2). Immediate and bold measures to ensuring the
sustainability of public finances

Need 3). Take measures to overhaul of the public
administration to improve administrative efficiency and business friendliness. Systematic
use of performance indicators (health, education and judiciary systems).Abolish
or consolidate some intermediate administrative layers (provinces).

Exploiting economies of scale in local public Services.

In the conclusion the Governing Council of the European Central Bank
express its wish to see these measures applied.