Merkel Lauds Italy’s Renzi as Counterpoint to ECB Action

January 23, 2015 3:29 PM

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Merkel Lauds Italy’s Renzi as Counterpoint to ECB Action

German Chancellor Angela Merkel said Italy’s “impressive” economic reforms show what needs to be done alongside the European Central Bank’s trillion-euro asset purchases, which she says can’t replace government action.

Standing alongside Italian Prime Minister Matteo Renzi beneath Michelangelo’s statue of David in Florence, Merkel said Friday she’s convinced he’s taking steps to overhaul Italy’s labor market and administration at an “impressive tempo.” She showcased Italy’s efforts as a counterpoint to the ECB’s q...

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