January 18, 2007 (LPAC)--Italian economist Nino Galloni, who spoke at a Schiller Institute Conference in Germany on Sept. 15 on the Eurasian Land-Bridge, warned this week of the dire consequences of a failure to expand public productive investment to stop the economic collapse.

Interviewed by the newswire Agenparl on Jan. 15, about government reports stating that there has been a reduction of public expenditures over the last year, Galloni said that "without an adequate development of public expenditures, there is no possibility of modernizing the country. Infrastructure, research, education, health, and transportation demand urgent, expensive interventions, able to increase production and valorization of resources. Here, instead, we go on talking about balancing the budget, like 200 years ago, when current technologies were not available and the economy had to save in order to make investments; without investments, there is no future, no development. Even the foundations of civilization are being eroded. We must understand that public expenditures cannot be financed only through taxation of the citizens and of industrial firms."