A wasted 適切な時期? Italy's EU 基金s 大当り 攻撃する，衝突するs the 激しく揺するs
Italy behind in 政策 goals and spending
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会社／堅いs say it takes two years to 開始する，打ち上げる 事業／計画（する）s
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延期するs 持つ／拘留する 支援する 不正に-needed 投資s
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Higher growth 重要な for 負債 sustainability
By Valentina Za, Giuseppe Fonte, Gavin Jones
ROME/MILAN, July 12 (Reuters) - Italy's hopes of transforming its economy with billions of euros of European Union pandemic 回復 基金s are unravelling 急速な／放蕩な, 商売／仕事s on the ground say, with inefficiencies at all levels raising the 危険 of a greater 上げる to 負債 than to growth.
In 中央の-2020 Rome 安全な・保証するd the lion's 株 of a 724-billion-euro kitty 目的（とする）d at helping EU members 現れる from COVID greener and more tech-friendly.
Italy's 191.5 billion euros ($210 billion) of cheap 貸付金s and 認めるs, to be received in tranches through 2026, was ーするつもりであるd for 生産力のある 投資s in the 圏's most chronically 沈滞した economy. 急速な／放蕩な-今後 three years and Brussels is 保留するing the 基金s 予定 to Rome's 失敗 to keep its part of the 取引: progressively 可決する・採択するing 527 極端に 詳細（に述べる）d 政策 "的s and milestones".
論争s have arisen over, の中で other things, a 改革（する） of Italy's port 譲歩s, whether サッカー stadium 改良s could feature in the 計画（する）, and a 失敗 to 供給する 7,500 extra beds for university students. Italy is also behind schedule in spending money already transferred, worrying 経済学者s and 率ing 機関s 注目する，もくろむing the sustainability of the world's third-largest 負債 pile.
Roberto Perotti, 経済的なs professor at Milan's Bocconi University, said Italy had put together its 地位，任命する-COVID Re covery and Resilience 計画（する） (PNRR) too あわてて and requested too much money.
"It was doomed from the start," he said. "We were unable to decide on sensible 事業／計画（する）s and we are unable to spend the money on the ones that have been agreed." 総理大臣 Giorgia Meloni, who took office nine months ago, 計画（する）s to 現在の a 改造するd and 改訂するd PNRR to Brussels next month.
非難するing the 後退s on her 前任者s Mario Draghi and Giuseppe Conte, she told 議会 last week: "We will make good use of that money whatever it takes."
DWINDLING GROWTH IMPACT Italy has so far received 67 billion euros, with the 最新の tranche arriving in late 2022. By end-February it had 投資するd 26 billion, about half the 量 planned.
As a result, the 推定する／予想するd 衝撃 on 経済成長 is 減らすing.
The PNRR 与える／捧げるd only 0.1 百分率 points to Italy's buoyant 3.7% growth 率 in 2022, によれば the 財務省, far いっそう少なく than the 的d 0.7 points.
Even so, in April the 政府 said it would account for 80% of this year's growth, 事業／計画（する）d at a meagre 1%, 強調するing the importance of resuscitating the 事業／計画（する）.
Italy was the only country to 受託する not only EU 認めるs but also all the 貸付金s it was する権利を与えるd to, 価値（がある） almost two-thirds of the total, betting that a 上げる to growth would 相殺する the 衝撃 on 負債. 投資家s now worry the 賭事 could backfire.
"We have to grow by 2% per year," said Carlo Messina, the 長，指導者 of Intesa Sanpaolo, Italy's largest bank and its second biggest creditor after the European Central Bank.
"It's only with 投資s that we can 加速する growth."
Vittorio Soldavini, the 長，率いる of H.T. High 科学（工学）技術, a northern Italian ソフトウェア company, said the PNRR's プロの／賛成の blems had put 商売／仕事s' 投資 計画（する）s on ice.
"Our （弁護士の）依頼人s 含む public 団体／死体s that are waiting for the money but they don't know if they are going to get it ... public 投資s can't begin, and that also 適用するs to 私的な companies."
Behind the problems 嘘（をつく） poor planning and a 不足 of qualified 職員／兵員 to help 地元の 会議s - who manage a large chunk of the 事業／計画（する）s - organise tenders and 監督する 進歩.
"We 欠如（する） lawyers, accountants, engineers, everything," said Davide Carlucci, who leads 回復 South, a 網状組織 of 323 市長s in Italy's under-developed south, where 40% of the PNRR cash is supposed to be spent.
"It's been a wasted 適切な時期," he said.
Gustavo Piga, an 経済的なs professor who teaches 調達 政策 at Rome's Tor Vergata University, said 海難救助ing the PNRR would 要求する "large-規模 雇うing of public tender 専門家s on 井戸／弁護士席-paid, 永久の 契約s".
MICRO-PROJECTS
More than half the EU money is meant to go on digitalisation and 生態学の 移行, with the 残り／休憩（する） 充てるd to 維持できる 輸送（する）, education, social cohesion and health.
Yet まっただ中に growing public disenchantment, Italian マスコミ have made fun of myriad micro-事業／計画（する）s ありそうもない to help growth, such as 共同墓地 enlargements or the 開始 of a ham museum in a village 近づく Parma.
For more ambitious 計画／陰謀s, companies are exasperated by 非常に長い bureaucratic 手続きs.
A northern 工学 会社／堅い 現在のd a 事業／計画（する） a year ago to produce high-tech, light-負わせる 自動推進の 構成要素s. After vetting by a bank and the 国家の 研究 会議, it hopes to get 是認 late this year, 許すing work to begin in 2024.
Considering how quickly 革新 事業／計画（する）s become obsolete, two years is a long time to wait, its 長，指導者 (n)役員／(a)執行力のある told Reuters, asking not to be 指名するd 予定 to the sensitivity of the 事柄.
The 政府 is still を待つing a 19-billion-euro tranche of the EU 基金s 封鎖するd in March over 行方不明になるd 政策 的s stemming from 2022. It also 行方不明になるd an end-June 最終期限 for the next 一連の会議、交渉／完成する of 的s and milestones, meaning an 付加 16-billion-euro tranche 予定 this year may not come before 2024, 傷つけるing Rome's already creaking public 財政／金融s.
Ilaria Gobbato, a tenders specialist at 法律 会社／堅い Dentons, said fresh problems are likely to arise from the 採択 this month of a new 合法的な code for public 契約s.
It brings Italy's byzantine 支配するs closer to EU 基準s, but Gobbato said people will 最初 find it hard to adapt.
"You have to ask yourself how many 行政s will be ready to 問題／発行する tenders from tomorrow," she said.
($1 = 0.9121 euros)
(Editing by Catherine Evans)
