Italy’s Record Casts Shadow Over Hopes of Post-Covid Recovery

This week as small businesses across Italy reopened after nearly two months of lockdown, Franco Magliocchetti, a 32-year-old restaurateur in Rome, spent most of his day sat glancing at rows of empty tables. Mr Magliocchetti and his business partner, Fabio Trovato, are crossing their fingers that the lifting of restrictions will see the country bounce back from what is forecast to be the sharpest recession in its modern history. But while the Italian economy is expected to regain ground in the second half of the year, its recent history of failing to recover from recessions sets a grim precedent, the Financial Times reported. Business at Cambio, a restaurant in Rome’s bohemian Trastevere area specialising in Apulian dishes that the pair opened a year ago, is slow — so slow that they do not know how much longer they will be able to stay open unless it improves. Read more