Italy - IMF comes with well-known receipt - May 31, 2016

At the end of an official visit the IMF describes the preliminary findings in a Concluding Statement, the basis of a report on the state of the economy. The IMF estimates that with the actual growth path a return to pre-crisis (2007) output levels will only be reached by the mid-2020s and, as a consequence, the country will stay behind the faster growing euro area average. The IMF praises the reforms and the labour market legislation that is being implemented, in particular the Jobs Act. In the statement it is recommended to build up a new wage bargaining system that helps align wages with productivity, in order to improve competitiveness: by broadening the scope for firms, specifically smaller enterprises as well as many in the South, to engage in effective firm-level negotiations that strengthen the link between wages and productivity.

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For more information, please contact the editor Jan Cremers, Amsterdam Institute for Advanced Labour Studies (AIAS) or the communications officer at the ETUI, Willy De Backer For previous issues of the Collective bargaining newsletter please visit Since June 2013 readers can consult our archive and search through all articles in our database at www.cbnarchive.euYou may find further information on the ETUI at, and on the AIAS at

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