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".
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