In this paper we discuss and arise several critics to the National Agreement signed on the 21st November 2012 by trade unions (except the larger Italian trade unions CGIL) and employers associations on productivity and competitiveness, called "Linee programmatiche per la crescita della produttività e della competitività in Italia". The Agreement does not constitute an improvement in Italian industrial relations and will not contribute to stop the decline of productivity of national industrial system. Neither it does tackle the question of trade union recognition and that of contract enforceability, which are postponed in the future. The Pact is far away from the more relevant Social Pact signed in 1993 by social partners and Government, who introduced the two levels bargaining system, national and firm levels, and mark also a backward step respect the 2011 Agreement signed by all trade unions organizations, enclosed CGIL.