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Transcript: Italy's Labor Minister On Reforms
Keywords:
The WSJ's Christopher Emsden and Alessandra Galloni's interview with Italy's Labor Minister, Elsa Fornero, after major changes to Italy's labor laws including Article 18. This is a major change for Italy. She describes the problems she faced and how she has tackled them to get the new labor law passed. Fornero will set up a monitoring system to ensure that the law's imprementation takes place smoothly. To make the change Fornero took apart Article 18 to its constituent elements, preserving the anti discrimination aspect and the right to appeal, but allowing employees to be terminated for economic reasons. This puts Italy on an even footing with its europartners Germany and France, and addresses one of the main reasons Italian businesses are loath to hiring new employees. It also addresses the main reason why foreign investment in the Italian economy is so scarce. In achieving this Fornero faced the lack of support from Confindustria, the business association (which does not cease to amaze her), CGIL, the labor unions, and the political class in Italy, with each side wanting to tweak the system to make gains or get special exemptions. Fornero is a pensions expert and economics professor at the University of Turin. Her ministry covers pensions, labor, welfare and equal opportunity policies.
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Elsa Fornero says Italy is not a place where people follow the rules, and there is a strong tendency to rig the system to tweak it in different places to benefit different groups. The last 10 goverments have failed to tackle the Workers Law put in place after the Second World War, which is out of place in today's economy. Which is why the changes she has made are so significant for Italy to regain its competitiveness and its potential, and modernize its economy. This is also one of the major positive outcomes of the current eurozone crisis. Spain has launched a similiar effort. It involves a culture change which would increase productivity and investment. It also shows that while the Merkel Christian Democrats may need to adjust the austeity programs to promote growth, some of the structural changes pushed in Europe including the formation of the Monti government are finally on the right track.
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