Renzi plans an economic blitz

Prime minister Matteo Renzi said he is planning three years of legislation to end Italy’s economic stagnation and cited Germany in 2003 as his inspiration.

Italy will present a proposal for broad changes to the public administration, the welfare system and the tax regime by September 1, Renzi said in a speech to parliament in Rome.

By repeatedly referencing Germany’s legislative overhaul a decade ago, Renzi simultaneously set the bar for success and signalled he expects the European Union to ease budget targets in return.