The letter addressed to the Italian prime minister Berlusconi , written on the 5 August 2011 by Mario Draghi and Jean-Claude Trichet report the decisions of European Central Bank about Italian bonds. The argoumentative text starts with a salutation (Dear Prime Minister), a short report about background information (ECB council) and it has the purpose to invite the prime minister to take measure about Italian economic situation.
The first section of the letter intrduces the problem and explains the main thesis:
Italian authorities must restore the confidence of the investors and underpin its signature implementing structural reforms.
The remaining part explains the 3 main problems/needs with the respective suggestions.
To take measures:
1) For a potential growth ( improvement of the quality of services and renovation of the fiscal system)
2) To ensure the sustainability of public finances
3) To change the public administration
For each of these needs are suggested different measures to apply.
1)
a) provide a reform to liberalize public and professional services
b) reform the wage bargaining system
c) review the rules of hiring and dismissal of employees, the insurance policies for unemployed people
2)
a) add/correct the fiscal measures and to cut expenses
b) introduce deficit reducing measures
c) take under control commercial debt
3)
take measures to improve administrative efficiency and business friendliness, caring also about performance indicators.
The letter ends with the hope that the Italian government will make all the necessary reforms by the end of September 2011.