ITALY:Crisis? What crisis? Italian prime minister Romano Prodi took a major swipe at his critics yesterday when, in the context of an open letter to news agency ANSA, he suggested that the Italian economy remained highly competitive and that contrary to widespread pre-Christmas reports, Italy had not been overtaken by Spain.
As so often in Italian political life, the prime minister opted for a sports metaphor in order to explain the current state of play. "After years and years in the pits, during which both our deficit and public debt got bigger, Italy has now got the motor revved up."
Mr Prodi's major concern, however, was to contradict his Spanish opposite number, José Luis Zapatero, who, in a widely reported comment last month had the temerity to suggest that Spain had "overtaken" Italy in economic terms.
Given the close commercial and historic links between the two Mediterranean countries, the Spanish prime minister's comments prompted Italian front-page headlines of the gloom and doom variety.
Needlessly so, according to Mr Prodi, who yesterday wrote: "It is true that in recent years the Spanish economy has been the fastest-growing one among all the big euro zone economies . . .
"Let us however try to present the facts correctly: notwithstanding the extraordinary performance of the Spanish economy, the Italian economy is still 50 per cent bigger than the Spanish one, and that's for sure. But even in terms of per capita GDP, we are 13 per cent ahead of the Spanish."
Mr Prodi's conclusion is that the much touted sorpasso (overtaking) has not happened, nor will it. The Italian "motor" has made a protracted pit stop "for a change to tyres", suggests Mr Prodi, but is now finally back on the track and lapping at a speed which it "has not registered for years".
Needless to say, not everyone agrees with Mr Prodi's reading of the situation.
An unnamed source in the Spanish prime minister's office told daily La Stampa that Mr Prodi's figures were out of date since they referred to 2005.
Senior Northern League figure and former labour minister Roberto Maroni was more laconic, commenting: "What the Italian motor needs is a new driver."