Italy

    Mario Draghi, the head of the Bank of Italy, on Friday (March 11) pointed to the increasing mafia infiltration of the economy as contributing to Italy’s sluggish growth.

    “As we know the Italian economy has long suffered because of an inability to grow … Among various factors is the presence of mafia in the economy, which has grown in recent decades, at least geographically,” Draghi, who is also a European Central Bank governing council member, said at an anti-mafia conference as reported by Reuters.

    The mafia, which traditionally has its grip on the poorer south of Italy, is now increasing its control over the northern financial hub, recent reports by anti-mafia investigators reveal.

    About the author

    • Ma. Rizza Leonzon

      As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.