ANALYSIS OF THE LETTER Taken From 29th September 2011’s Corriere della Sera

        The text I am going to analyze is a formal letter. The senders are J. C. Trichet and M. Drghi, who represent the Governing Council of the European Central Bank. They address it to the Italian Prime Minister.

        The letter has a salutation (Dear Prime Minister) and a closing (We trust the Government will take all the appropriate actions) form.

The body of the letter is arranged into three paragraphs, each one playing a specific, defined function.

The first paragraph works as an introduction, paving the way for the coming argumentation. It resorts to background information: the discussion about the alarming Italian financial situation. In addition it explains to the addressee the reason for writing: Italy has to restore the confidence of its investors.

The second paragraph again refers to background information about a previous meeting between the Euro area Heads of State or Government by reporting a quotation. It is a solemn promise made by the States, who declared that they would respect their commitment. They have signed to support fiscal condition and activate structural reforms.

The Bank’s thesis is advanced at the end of the paragraph in the shape of a request: Italy needs to underpin its standing and its commitment to fiscal sustainability and structural reforms. The following statement declares that Italy has suffice in the previously-decided purpose to introduce fiscal package.

The third paragraph has an explanatory and alarming function. It illustrates a list of three urgent needs, developed in the shape of measures to be taken.

In the first place Italy has to enhance potential growth. As a result it needs to increase competition, improve the quality of public services and design appropriate fiscal systems. There are several Bank’s suggestions to concretize this point: adopting the liberalization of public services, reaching more relevant firm-level agreements and regulating the hiring and dismissal of employees.

Secondly is necessary that Italy ensures the sustainability of public finances. The creation of additional-corrective fiscal measures is request. The Bank provides practical examples to clarify ways of intervention: Italy should modify the pension system  and reduce the cost of public employees. The introduction of an automatic deficit reducing clause will also correct possible slippages. Furthermore borrowing should be placed under tight control.

These needs are considerate relevant. Indeed the senders suggest to the reader the demand of create a tighter constitutional reform. This advice suffice to understand the need to modify Italian substantial elements to face the economic challenge.

The third point is a determined encourage to ensure a overhaul of the public administration. Consequently it is fundamental to improve administrative efficiency and business friendliness by using performance indicators. In addition Italy should abolish or consolidate some intermediate administrative layers, such as provinces and exploit economies of scale in local public services.

At the end of the letter the Bank expresses its trust in the government’s carrying out of the request.

        The language emphasizes the urgency of the Italian juncture.

Saxon form is largely present in the letter (government bond markets /regulatory and fiscal systems) to express concept in a clear, concise way.

There are a huge amount of modal verbs (needs to, should) and expressions related to them (is needed, a need to). They convey the idea of formal duty.

In addition adverbs (urgently, crucial, decisively, immediately, systematic, as soon as possible) and adjective (not sufficient, significant, immediate and bold, essential) highlight the need of timeliness and quality actions.

The repetition of world like reform, review shows the necessity for Italy to renew its system. It is crucial in order to keep up with the rest of Europe.

Furthermore background information about previous European plans is reminded in different places in the text. As a result the Bank voluntarily underlines the Italian behind schedule. Indeed there are significant sentences (these are important steps, but not sufficient / it is crucial to go forward decisively / the governments needs to take immediate and bold measures) to communicate Italy has necessarily to adopt the recommended measures.

        I am interested to notice the presence of worlds like confidence, friendliness, trust which are related to ethic values. The reason of using is twofold. Firstly it shows Italian impropriety in not having adopted previous conditions and reforms after the sovereign signature. Consequently it suggests decency.

Secondly it conveys the idea of relationship between Economic Science, political and financial reforms and human confidence.

In my opinion it is a great point because it means that every reform has to assure the wellbeing of people.

It is fundamental that the Governing Council of the European Central Bank believe in the practicability of this purpose, but it does not suffice: Prime Ministers should practice it.