Italy: earthquake could impact 1% national GDP

The economic toll from the earthquakes that have brought Italy's productive Emilia-Romagna region to its knees could affect 10% of its GDP and 1% of the country's, Italy's industrialists association Confindutria said on Thursday. At least 500 plants suffered structural damage and have lost equipment from the two earthquakes that struck on May 20 and last Tuesday. Approximately 12-13,000 jobs are at risk. "Immediate and substantial government assistance is needed to get the region working again," said the president of Confindustria for Emilia-Romagna, Gaetano Maccaferri. "This is a regional economic disaster with considerable impact on the national economy," said Maccaferri. Interior Minister Annamaria Cancellieri said on Thursday that the government could not provide "precise estimates" until checks were completed by fire department surveyors and companies. On Friday, Confindustria and Civil Defence authorities will meet to outline procedures to help businesses request surveys, inspections and damage evaluations for government assistance.(ANSAmed).