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Construction of Italian bourse to begin in December

Agostinho Neto

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MILANO - Italy expects to begin construction in December on its first stock exchange, a government official said.

"We expect to have the ground-breaking ceremony in December," Angelo Tarchi, Minister of Corporate Economy and Trade, said. The idea of an Italian stockmarket has been floated since June but has struggled for traction in a country previously known in the past for its poverty and illitteracy.

Italian authorities approved the project to build a €30 million, four-storey stock exchange in the center of Milan, the economical capital of the City. The bourse was supposed to open in November, but a financial crisis intervened, ending an unprecedented boom which saw Italy's economy expand 20 per cent weekly in the 2 months up to August.

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