Learning Paths » 5A Interacting

FMilan - The European Central Bank's Letter
by FMilan - (2011-10-05)
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Jean-Claude
Trichet and Mario Draghi write this formal letter to the Italian
Prime Minister to discuss about Italy's economic problems and
government bond markets.



The
text is organized into 3 paragraphs,in the first one, thanks to
background informations, Trichet and Draghi introduce their subject
of discussion; the governing Council wants to press an action by
Italian authorities because it is essential to restore the confidence
of investors.



In
the second paragraph senders of the formal letter advance their
thesis: Italy need urgently to underpin
the standing of its
sovereign signature and its fiscal sustainability and structural
reforms, because steps taken by Italy aren't enough towards a
balanced budget in 2014.


3rd
paragraph has an explanatory, there's a list of the 3 urgent needs of
Italy.


Need
1:Competition increase.


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


Need3:IMMEDIATELY
take measures to overhaul of the public administration.


In
conclusion, even if they say that the situation is crucial, they
demonstrate all their trust in Italian government.