{
  "id": 19563912,
  "title": "Europe’s Pitch Book: Italy – the resilient Nonna",
  "url": "https://urgent.news/2026/11/11/europes-pitch-book-italy-the-resilient-nonna",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-11T22:00:48.000Z",
  "source": {
    "name": "Hellenic Shipping News",
    "slug": "hellenic-shipping-news",
    "url": "https://www.hellenicshippingnews.com/europes-pitch-book-italy-the-resilient-nonna/"
  },
  "original_language": "en",
  "account": "Italy, often portrayed as an economic enigma, deserves a different perspective. Dubbed \"the resilient Nonna,\" this nation is recognized for its slow pace and struggles with productivity growth. However, a closer look reveals notable strengths and opportunities.\n\nFirstly, Italians work longer hours than many of their European counterparts, ranking 12th among OECD countries. Between 2000 and 2025, labour participation surged by 10 percentage points, with significant contributions from older workers and women. While labour productivity faces a trade-off due to increased participation, further gains in these areas could help offset the challenges posed by an ageing population.\n\nSecondly, the banking sector's tumultuous past is now a thing of the past. With the non-performing loan ratio dropping to 1.9% in 2024, Italy's banking system has undergone a dramatic transformation. This has paved the way for corporate credit growth, which reached 4.4% in recent years, keeping pace with nominal economic growth.\n\nPublic debt has long been a concern for Italy, standing at around 140% of GDP. However, the government's fiscal trajectory shows promise. Since the euro's introduction, Italy has only run primary deficits five times, with recent efforts focused on consolidation. The Europe's Resilience and Recovery Fund has played a crucial role in funding infrastructure projects, including bridges, viaducts, tunnels, rail infrastructure, and high-speed internet for schools. These investments have propelled Italy's growth outlook.\n\nPerhaps most intriguing is the country's region divide. While some areas lag behind, significant strides have been made in meeting the Resilience and Recovery Plan's milestones. By June 2023, Italy had already achieved 72% of the plan's objectives, including justice reform, public administration, faster permitting, and competition rules. This progress suggests that Italy's potential for growth extends beyond infrastructure improvements and into the realm of public administration efficiency.\n\nIn summary, Italy's reputation as an economic paradox may be warranted, but a closer examination reveals a nation on the rise. By focusing on strengths such as increased labour participation, banking sector recovery, fiscal consolidation, and regional development, a more balanced and optimistic view of Italy's potential emerges.",
  "summary": "This is the country that’s known for its lack of productivity growth, multi-decade stagnation, government debt overhang and inability to reform. Why would we include this country in Europe’s Pitchbook – a series intended to make you see Europe’s strengths and opportunities, rather than only the weaknesses and risks? Well, if we can make you ...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}