An even more fundamental change involved E.N.I.'s role in the Italian economy.
Indeed, Mr. Berlusconi, a television magnate turned politician, likens the changes he envisages in the state's role in the Italian economy to the ideas of Ronald Reagan and Margaret Thatcher, who attacked entrenched labor power.
In July 2011 the Italian legislature approved a basket of austerity measures, including massive budget cuts, in an attempt to calm markets and restore confidence in the Italian economy.
Notwithstanding the relatively low level of inward FDI stock, foreign-controlled companies play an important role in the Italian economy, directly employing almost 1,266,000 workers at the end of 2008.
"It is not going to change the Italian economy overnight".
Under the new bill, "For four years we would not have been able to write in 2005 about events which could completely change the face of the Italian economy," said Mr. De Bortoli, the editor of Corriere della Sera.
Interestingly enough, the observed changes were associated with the performance of the Italian economy [ 12].
Mr. Monti, an economist who is also acting as finance minister, has told Italians that such changes are essential for Italy to boost its anemic growth, stave off a recession and pay down its staggering public debt, which is $2.5 trillion, or 120 percent of gross domestic product, in order to stabilize the Italian economy and protect the euro.
The French economy recorded zero growth in the first quarter of 2012, while the Italian economy contracted by 0.8%.
