SANTA MARGHERITA LIGURE, Italy, June 7 (UPI) -- Italy may face a social revolt if it does not slash unemployment and brighten economic prospects for its youth, the head of a young employers group said Friday.
Jacopo Morelli said Italian politicians "have emptied tomorrow of hope and filled the present with anguish," ANSA reported.
"Without prospects for the future, the only prospect becomes revolt," said Morelli, the head of a branch of the industrial confederation Confindustria.
More than 40 percent of Italians ages 15 to 24 are out of work. Across the country, businesses are shutting down and new business start-ups have stalled.
Speaking during a two-day conference of young business leaders, Morelli called on the government of Prime Minister Enrico Letta to help businesses and workers "pursue together development, growth and social cohesion."
Fears about the stability of the government and the economy have created a lack of business confidence, and more attention must be focused on business and labor taxes and less on a controversial property tax, Morelli said.
He said the government must reduce the amount of revenue lost to tax evasion and corruption.
An estimated $158 million has been lost to tax evasion in Italy, and an additional $79 billion to corruption, he said.
