'We Are Entering a War Economy' – Italy Shuts Non-Essential Factories

'We Are Entering a War Economy' – Italy Shuts Non-Essential Factories

The industrial lobby Confindustria estimates a cost of 70 billion to 100 billion euros ($77 billion-$110 billion) of national wealth a month if 70 per cent of companies are closed, as anticipated.

Though some big companies had already suspended activities, thousands of smaller manufacturers had continued after adopting new safety regulations, and will now shut down.

Under the measures, fashion house Prada said it will start producing 80,000 medical overalls and 110,000 masks for health care workers, and the Armani Group was converting to make single-use medical overalls.

Work on a Genoa bridge to replace the one that fatally collapsed in August 2018 – considered of strategic importance – continued, while that on the Italian side of the Brenner Base Tunnel, which will be the longest rail tunnel in the world when completed, was suspended along with work on the Italian side of a high-speed rail tunnel to France.

The big concern for the small and medium-sized company owners that power Italy’s economy is how long the shutdown will last, and how hard that will hurt cash-flow and hinder a smooth return to business.

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