All Flashcards
What is the meaning of 'La recessione'?
Recession
What is the meaning of 'Disoccupato/a'?
Unemployed
What is the meaning of 'I risparmi'?
Savings
What is the meaning of 'Il reddito'?
Revenue/Income
What is the meaning of 'La disuguaglianza'?
Inequality
What is the meaning of 'Il debito'?
Debt
What is the meaning of 'La crescita/ il declino'?
Growth/Decline
What is the meaning of 'Essere in bancarotta'?
To be bankrupt
What is the meaning of 'L'industrializzazione'?
Industrialization
What is the meaning of 'Fabbricare'?
To manufacture
What is the meaning of 'I prodotti'?
Products
What is the meaning of 'Le aziende/ le imprese'?
Companies/Businesses
What is the meaning of 'I consumatori'?
Consumers
What is a key characteristic of the Italian economy?
It is primarily service-based, employing over 65% of the population.
Describe the regional divide in Italy's economy.
The north is highly industrialized (75% of the country's wealth), while the south is more agricultural and less developed.
What is a significant economic challenge Italy faces?
High public debt (5th largest debtor worldwide).
What was the impact of the 2008 financial crisis on Italy's GDP?
Italy's GDP dropped by about 5.5% after the Lehman Brothers bankruptcy.
What was the impact of the 2008 financial crisis on unemployment in Italy?
Unemployment rose to about 8% immediately, peaking at 13% in 2013, with youth unemployment reaching 28%.
How did the COVID-19 pandemic affect Italy's public debt?
Public debt is projected to reach 160% of GDP.
What is the projected GDP decline in Italy due to COVID-19?
GDP is expected to drop by up to 18% by June 2021.
How many workers were laid off in Italy due to the COVID-19 pandemic?
Over 3 million workers were laid off from over 178,000 companies.
What is a major global issue impacting Italy and other countries?
Income inequality, the gap between the rich and the poor.
What is one proposed solution to income inequality on a global scale?
Adopting policies to accelerate income growth among the poorest 40%.
What is one potential solution for Italy's economic issues?
Reform the political system for more stability and fewer political parties.
What is another potential solution for Italy's economic issues?
Repair the banking system.