Another "New Deal", a set of public plans for infrastructure projects aimed at increasing employment and bringing some relief to the steel markets, has been suggested to the Italian government by Federacciai (Federation of Italian Steel Companies). The recommendation comes against the backdrop of the current global crisis which has seriously affected the domestic steel industry in Italy in terms of demand, prices and employment: most Italian mills have already been forced to implement redundancies, and many others will be obliged to do likewise in the coming months, affecting thousands of workers.
During a public speech in Brescia last week, Federacciai chairman Giuseppe Pasini stated that the stimulus package favored by Italian government for the auto industry was praiseworthy, but he also stated that the government should favor an appropriate stimulus package to boost the whole manufacturing industry and which would incorporate infrastructure projects.
Federacciai, is part of Confindustria, the leading organization representing manufacturing and service companies in Italy. It includes about 150 member firms producing and processing over 95 percent of the Italian steel output.