SLOW RECOVERY HAS BEGUN, BERLUSCONI SAYS

SLOW RECOVERY HAS BEGUN, BERLUSCONI SAYS

(ANSA) - Rome, October 29 - Italy's economy has entered a slow recovery and Italians have good reason to be optimistic about the future, Premier Silvio Berlusconi said on Thursday.

In a message marking 'Savings Day', the premier said ''the worst part of the financial crisis would appear to be behind us and, while slow, a recovery has begun''.

''There are many reasons for Italians to be optimistic and they can now overcome that attitude which has been defined as 'static' pessimism,'' he added.

According to Berlusconi, the economic downturn is being overcome ''thanks to the decisions made on a global level as well as the fact that all institutional, social and economic players in this country fulfilled their roles in a positive way''.

The premier went on to stress the need for business and banks to work closer together and praised banks for their performance during the credit crunch which he said helped Italy through the crisis better than many other countries.

Looking towards the immediate future, Berlusconi said his government would keep a close eye on the credit system and adopt whatever measures are necessary to help Italy through the financial crisis and jump-start the real economy.