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Restrictions on cooperation with Russia will reach nowhere – Italian expert

April 03, 2014, 20:02 UTC+3 ROME
Giorgio Squinzi, the president of Italy’s biggest association of employers, believes possible economic sanctions will be of no benefit to the European Union
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©  EPA/JULIEN WARNAND

ROME, April 03. /ITAR-TASS/. Cooperation between Russia and Europe has reached a level where reducing it in any way would reach nowhere, says Giorgio Squinzi, the president of Italy’s biggest association of employers, Confindustria.

“We only hope that economic relations between Russia and Italy will not be placed in jeopardy over the situation in and around Ukraine,” Squinzi told ITAR-TASS on Thursday. “Italy as an importing and exporting country has nothing to gain from any sanctions against Russia.”

Squinzi believes possible economic sanctions will be of no benefit to the European Union, either.

“This would cause problems not only for Italy but for the whole European Union as well,” he said.

The expert added that Italy’s economy was in a very tricky situation today - certain growth could be observed, but the progress was still very slow. Squinzi is not inclined, however, to give all the credit for the improved economic situation to the country’s government or even governments, as there have been three of them over the last three years.

“There is nothing we can thank the Italian government for,” he said. “The global situation in the financial markets has simply improved a bit. This is the main factor for the positive developments we see in Italy.

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