Italy State Failing Businesses Just When They Need It Most
- Bureaucracy, bank procedures delay dispersal of vital loans
- State’s poor performance undermines Italy’s case for EU help
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It’s been six weeks since Eleonora Furlan first asked about an 800,000-euro ($896,000) state-backed loan to save her business, but she still has no idea if she’ll get it. And her seven employees haven’t received any state relief since their temporary layoffs.
“I’m angry I’m not getting a clear answer; I have no Plan B,” said Furlan, the 42-year-old owner of Pregi Srl clothes wholesaler near Turin in northern Italy.