SHOTLIST 1. Various of road workers 2. SOUNDBITE (Italian) Marco Sportelli, road worker: "I don't know if there's going to be growth again. I think we should abandon Greece, because the more money we give them, the more they will ask and the more it will drag down other European countries. Then we will see what we can do for ourselves. For the moment it seems we are going in the right direction, then we will see what happens." 3. Wide of street scene 4. Exterior shot of opticians 5. Various of optician placing reading glasses inside case 6. SOUNDBITE (Italian) Paolo Armellini, optician: "The bank accounts have become empty. People spend very little and those who have money are obviously frightened and change their way of spending. So everything is stagnant, blocked." 7. Wide of LUISS university exteriors 8. Close up sign reading "LUISS" 9. Set up shot of Nicola Borri, Professor of Economics at Luiss University 10. SOUNDBITE (English) Nicola Borri, Professor of Economics at Luiss University: "The new data released today tells us that GDP, in the last quarter of 2011, declined by 0.7 percent. This, together with the decline also in the third quarter of 2011, make two consecutive quarters in which Italian GDP declined and this, technically, is defined a recession." 11. Close up notes on Borri's desk 12. SOUNDBITE (English) Nicola Borri, Professor of Economics at Luiss University: "It's very important to see if the measures this last government has enacted, both in terms of fiscal stability and also in terms of competition, will be successful. If that is the case I'm quite optimistic that Italy will go back to growth." 13. Close up of award 14. SOUNDBITE (English) Nicola Borri, Professor of Economics at Luiss University: "I think that it is important to have Greece in mind, because it's a symbol of what we can be, maybe not in the next two or three years, but maybe in the next fifteen years, if we keep doing what we were doing in the last ten, maybe fifteen years in Italy, basically nothing in terms of structural reforms." 15. Tilt down newspapers STORYLINE Italy's economy, the eurozone's third-largest, slid into recession in the fourth quarter of last year due to a drop in industrial activity and a stagnant services sector, the national statistics agency said on Wednesday. Italy is struggling to escape Europe's sovereign debt crisis with measures to cut spending and spur growth. Ministers were working on Wednesday on new reforms to the labour market. Meanwhile concerns grew that creditors of another heavily indebted country, Greece, weren't ready to hand over bailout loans needed to avert a default and that the money might not be sufficient anyway. In a central Rome street, a construction worker said he feared for the future of Italy and Europe. "I don't know if there's going to be growth again," said road worker Marco Sportelli. "I think we should abandon Greece, because the more money we give them, the more they will ask and the more it will drag down other European countries. Then we will see what we can do for ourselves," he added. At a nearby opticians, owner Paolo Armellini said his business shrunk by 50 percent compared to last year. "The bank accounts have become empty. People spend very little and those who have money are obviously frightened and change their way of spending. So everything is stagnant, blocked." Luiss University professor Nicola Borri said that if Italy didn't enact competition and fiscal stability reforms, it could soon follow Greece into an even deeper debt crisis. The Italian economy contracted by a quarterly 0.7 percent, the national statistics agency said, marking the second straight quarterly decline - the technical definition of a recession. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/4988e59512f2a96b9eb81eefe8f092a1 Find out more about AP Archive: http://www.aparchive.com/HowWeWork

• published: 30 Jul 2015
• views: 127