Italy government: corruption holds back economic growth

By AP - Italy's justice minister says corruption is hampering the country's economic growth and that Premier Mario Monti's government will push hard this week in Parliament for a tough anti-corruption law. Minister Paola Severino, citing World Bank estimates, said Sunday that combatting corruption could boost Italy's GDP by 2-4 percent. Kickbacks in awarding contracts can boost overall costs and discourage investors from doing business in Italy. She spoke on the sidelines of an annual closed-door economic forum at a resort on Lake Como. Monti, leading a non-elected technocrat government, was reportedly coy at the forum about calls from some centrist politicians that he run for election this spring when Parliament's term ends. He was appointed in November to save Italy from succumbing to the eurozone sovereign debt crisis.

10th September 2012 11:38 AM