The European programme
The two "big" protagonists of these changes- i.e. the American Federal Reserve (Fed) and the European Central Bank (Ecb) - have taken decisions influencing the international macro-economic scenario, far beyond the frontiers of the regions where they are based.
In this context, it seems very interesting to explore the consequences for a country like Italy that is going through a period of economic recovery.
Positive trends for the Bel Paese derive from the exports, along with the good performance of American dollar that will encourage imports from Italy. As a matter of fact, the US have always been a core market for Italian products, therefore a further input to buy Made in Italy items seems promising.
Experts also believe that Fed and Ecb's policies will have a slowing impact of economies like the Brazilian and Venezuelan ones, decreasing their aggregated demand. Once again, this is good news for Italy, which does not have any intertwined relations with any of these countries.
On the other hand, bad news come from Fed's energetic policies. In fact, Euro will become weaker than American dollar and this will increase the expense for the energy supply, given that Italy is a major energy buyer from the US.
Undoubtedly, the situation seems quite complicated. Fed has made up a restrictive strategy aimed at protecting American economy and at encouraging investments abroad. At the same time, countries like Italy are experiencing a very challenging period, given their internal unstable economic situation.
According to Simone Romano - an Italian researcher at the Rome-based Institute for International Affairs (IAI) - it is important to focus on boosting up the investments and internal consumptions. In this way, there will be a decrease in unemployment due to the reduced dependence of Italian economy on foreign and external forces.