Italy: Timid recovery as reforms just started

Getting back on track takes time: First positive effects from the lower EUR, but don't hope for too much.

Improving financing conditions for companies thanks to the ECB QE, but demand issues prevail and turnovers are flat.

Still close monitoring for insolvencies and non-performing loans. Progress in the reform agenda, although measures come late compared to peers.

Italy: Timid recovery as reforms just started - Report