Schulz: Italy Requires a Labor Market Shake Up

The video discusses the economic concept of depreciation and its implications, focusing on Italy's need for structural changes to improve its economy. It highlights the importance of reducing nominal unit labor costs, comparing Italy's situation with Spain and Germany. The video suggests labor market reforms and wage restraint as necessary steps for Italy to achieve economic growth.

What actions have been taken by Renzi to address the labor market issues in Italy?

What is required for a reduction in unit labor costs to reflect exchange rate depreciation?