Italy's Draghi on employment and development

In the speech 'Employment and development - the legacy of Giorgio Gagliani' given on 26 March Mario Draghi of the Bank of Italy said the repercussions of population ageing have already begun to be felt in the Italian labour market.

"Deaths have outnumbered births in every year since 1993 except for 2004. The years ahead will see a further sharp contraction in the working-age population, which only immigration flows much larger than those now projected would be able to offset. According to

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