Mario Draghi sees Drop in GDP for Italy

Mario Draghi, the president of the Italian Central Bank (Banca d’Italia) sees a drop in Italy’s GDP of 5% and a jobless rate of more than 10% for the year 2009.

Draghi also sees the necessity of structural reforms to guarantee the orderliness of public accounts and participations to provide the social safety net, the resumption of public investments, and the further support for the availability of credit.

According to Draghi, there is also a need to review pension plans and increase the effective age of retirment from 55 to 65 years.

[Source: Il Messagero]

As a sidenote, Mario Draghi is a former Goldman Sachs partner and he is a current member of the Group of Thirty. A group in which members apparently arenumbered, and Draghi is “member 33“. At least here we know who Number 1 is. It’s Paul Volcker, the chairman of the group.

Below is a screenshot of the current members. I would have thought that Timothy Geithner did once figure on that list as well, before he became Secretary of Treasury, but then again, I may be wrong.

In any case that is an interesting list.

Group of Thirty Members

Group of Thirty Members