This is CBS I on the World.

I'm John Batchel.

Lorenzo Fiore, my good colleague in Milan, Italy, joins.

Lorenzo is also Sochital del Giordino,

the distinguished club in downtown Milan,

near La Scala, near the cathedral, near the heart of

modern Italy. Everybody wants to live in Milan. Why? Because Italy offers conditions for the

investor class that are not readily available elsewhere. However, at years end, I've asked Lorenzo to look ahead for what Italy achieved

in 25 and what it's looking to achieve and maintain in 26. Lorenzo, it is years end. Of course,

it's Christmas time, and we enter the joy of the lights of Milan and the cathedral's presentation on Christmas Day.

Whatever.

We look at the numbers.

Now, your numbers are dramatically different than ours

because we have different systems.

It's apples and oranges.

So everything you're about to present

is within the rules of the European Union, much more strict

disciplinarian than the U.S. government has to enjoy. And also the American public, here's numbers

that are 3% or 3.5% growth and things we're doing well. The systems don't match up. So I make that caveat.

If it sounds like Italy and Europe are growing, not at the pace we are. There are details here

need to be ironed out and it really can't be. So let's speak positively about your growth,

about your employment, about the prospects for 26.

...