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Mesirow Financial Deputy Chief Economist Adolfo Laurenti on the growing concerns over Spain and Italy’s growing economic crisis.
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-- collection now in the books investors' attention turning to Spain and Italy and and you know -- we're calling -- the strain in Spain that.
Many say that Spain is the next domino to fall adult Fuller renting is the deputy chief economist at -- financial I guess a -- we could throw Italy -- that too.
Different set of problems than Spain and Greece but nonetheless there are two countries showing real cracks here.
What do we need to look at first and fixed first and I when I say we I mean that the hopefully eurozone not to be US.
Well this might actually become a problem for the awarding -- article you anything -- -- because I think they idea that that would be called to -- your order.
If we needed to step in and -- -- Spain any that he is read these at a very large companies this patient eat that he.
That economy has not been performing -- a -- longer time.
That debt to need that these massive and that's the Weiss paid that he's getting so crucial because -- baby he's been fired award we needed to do something about the Spain -- -- order to prevent the contagion to -- And reach eat that he went video problem might.
The -- also the probably IMF -- sometimes their medicine turns into poison I mean they they keep.
Emphasizing that you have to raise taxes whether its value added taxes or raise the tax rates.
Very often that kind of medicine can kill any kind of economic growth how do you how do you get -- economic growth without cutting taxes.
I think of cities that popped over daddy if you look at it -- -- you've -- in Spain didn't steal a lot of letter read the tape.
And lot of -- -- -- proxies that we noted to leave you that we need debt.
To pay more tax season when did that he's a -- -- that's -- tool for the US AZ who forty that he.
But the problem he's very humiliation -- play's unique value and to a lesser extent.
In Spain else.
So massive effort at deregulation is what -- target about.
Exactly he does he need to make it -- -- -- -- more local -- DT.
That's the key.
I do not to be being a massive if he's got a steam use because we have seen in the United States and not -- that's not a racist B that always works.
But if you make the economy more local -- -- we -- -- -- -- -- -- more private easy shown in more flexible labelled market.
And then you can generate that big -- -- -- -- add to the column to go and.
For what it's also.
Listen in Greece they do not have a taste firm for a privatize in a lot of businesses they've been very comfortable leaning on the government to pay for everything.
What's the sentiment like in Italy would -- be more open to that there are a lot of publicly traded.
Very strong Italian companies do they really show the way it is that an attractive model.
-- DVDs -- attractive long dated but of course of that got a lot of the law be singing -- list -- who predicted they want to preserve these doctors pool.
I think that's the way that you that he can do much of -- there.
And market but I assure right now is is somewhat ahead of being the Italian goal remains to -- -- by professional Ramon.
To poor she did lie in -- long that that that the tie it all.
Action on identity -- yes festina reluctant to date.
However once reluctant and in the meantime Rome burns of Paris firms everything birth all right adult book good to see you thank you so much for getting -- you have a --
