Italy's PM speaking to European Parliament in Strasbourg
He adds:
- Role is to get Europe project, up, running again
- European project seems to have lost momentum
- Austerity has had devasting social effects
- EU oligarchic system ignores people's needs
- Strongly believes in trans-Atlantic alliance.
Italy has seen their economy suffer. GDP for 4Q came in at -0.2% which was the 2nd consecutive quarter of declines. ON Friday Industrial production fell for the 4th consecutive month. Italian industrial output fell 0.8% in December from the month before. That was below the estimate of a 0.4% increase.