ITALIANS SAY CRISIS IS FAR FROM OVER, STUDY SHOWS
ITALIANS SAY CRISIS IS FAR FROM OVER, STUDY SHOWS
(ANSA) - Rome, November 10 - A vast majority of Italians do not believe the economic crisis has peaked and are afraid that the worst may yet come in regard to employment, according to a study carried out by the ISPO research group for the national retail services association Confesercenti.
The study found that 87% of Italians do not believe the economic situation has turned around, while 94% are afraid about the employment situation.
Almost 20% of Italians said that someone in their family had lost their job or been temporarily laid off.
The study also found that due to the crisis some 50% of Italians were reconsidering the feasibility of putting away savings while one of three Italians with savings said they had to dip into them in order to make ends meet.
Looking at the way the crisis has been handled, 64% of Italians gave a thumbs down to the measures adopted by the government so far.
Negative views were also expressed on the responses given by the regions, associations representing small businesses, trade union and, most of all, banks.
During the presentation of the ISPO study on Tuesday, Confesercenti reported that in the first nine months of the year 100,000 enterprises in the retail, services and tourism sectors had failed.
The findings of the ISPO study on the crisis were in contrast to those of the Italian government and businesses leaders like Fiat Chairman Luca Cordero di Montezemolo.
Speaking at the end of last month, Italian Premier Silvio Berlusconi said that '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.
On Tuesday, Montezemolo said that "we are at the end of this dramatic crisis. The worst is over, the panic has subsided but the recovery will be long and difficult and there is the problem of high unemployment in Europe and the United States".
"There are important signs of a recovery even if it will be slow. We need to have confidence and be optimistic and take advantage of these signs and get moving," he added.
Last week, the European Union said that despite Italy's deficit and debt problems, the prospects for its economy had improved and the country could now expect ''moderate growth'' next year and in 2011.
This was followed on Friday by a report from the Organization for Economic Cooperation and Development (OECD) which said that Italy's economy in September showed the strongest signs of recovery in the 30-nation group for the second month in a row.
Given this trend, the OECD defined the Italian economy as ''in expansion''.
