Recession ‘certain’ if Russian gas stopped says Messina
(ANSA) – ROME, MAY 16 – A recession is “certain” in Italy if the flow of Russian gas into the country is stopped due to the Ukraine war, the CEO of Italy’s biggest bank Intesa Sanpaolo, Carlo Messina, said Monday.
“If they decide to turn off the gas taps a recession is certain with a significant loss of jobs and in a country like ours you can’t think of issuing new public debt (to improve the situation)”, he said at the inauguration of the Gallerie d’Italia in Turin.
“With a scenario of that type we will move towards a major recession”. (ANSA).