The big question for Italy is whether its moribund economy can start to look livelier, which in turn will depend in part on the effect of the new budget.

意大利面临的一个大问题是本国奄奄一息的经济能否重获新生，反过来这个目标的达成部分也取决于新财政预算发挥的效力。

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The first of these is that Italy is an export-led economy like Germany.

第一个是意大利像德国一样是出口导向型经济。

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Unless the economy gets moving Italy has little hope of reducing its public-debt mountain.

除非经济形势有所好转，否则意大利削减堆积如山的公共债务的希望不大。

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The question is, where is the leadership that will make it happen before credit costs are so high, a major economy like Italy defaults instead of Greece.

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Large parts of the eastern economy have become so addicted to subsidies that he fears they may become a German version of Italy's poor south, the Mezzogiorno, whose economy depends on handouts from Rome and Brussels, and has been plagued by low growth.

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Second, the UK has a currency that adjusts to the competitive strength or weakness of the UK economy alone, whereas - arguably - the exporting businesses of Spain and Italy are forced to sell overseas at higher prices than they would ideally like because the euro's value is determined by the perceived robustness of Germany's formidable manufacturing capacity.

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