---------- Forwarded message ---------- Date: Mon, 24 Aug 1998 11:11:58 -0400 (EDT) From: Robert Weissman <[EMAIL PROTECTED]> To: Multiple recipients of list STOP-IMF <[EMAIL PROTECTED]> Subject: IMF $, IMF favors longer working hours +++++++++++++++++++++++++++++++++++ Dow Jones Newswires -- August 19, 1998 IMF Knocks Italy's 35-Hour Work Week Plans - Newspaper Dow Jones Newswires MILAN -- The International Monetary Fund has knocked Italy's plans for the institution of a 35-hour work week in a new report on Italy's labor market, according to Italian newspapers Wednesday. "It's a measure with dubious value in the reduction of unemployment and its highly improbable that it will have a significant impact in correcting inefficiences in the labor market," the report said, according to Italian newspapers. A representative of the IMF could not immediately be reached for comment. The IMF once again called for greater flexibility in the Italian labor market, the reports noted, and said that a reduction in fiscal pressure and a reform of the educational system could also help. At the same time, the IMF traced some of Italy's problems on the labor front to a highly bureaucratic system. In April, Italy's unemployment rate rose to 12.5% from 12.2% in January. But Italy's government is unlikely to back away from plans for the 35-hour work week. After bringing the government to the brink of collapse last October, the government's far left ally Rifondazione Comunista agreed to support the government in exchange for legislation on the 35-hour work week. Rifondazione Comunista is expected to push for further measures to help spur job creation when the 1999 budget is presented this autumn. Copyright © 1998 Dow Jones & Company, Inc. All Rights Reserved. +++++++++++++++++++++++++++++++++++
