Giorgia Meloni, the EU parliament in the background
Meloni government, broadsides from foreign newspapers. Italy’s accounts scare Europe
The government Melons work on one maneuver increasingly complicated, the announcement made by the minister Giorgetti on Nadef it complicates the plans, funds are needed and public debt must be contained, two aspects that clash with each other. We go towards one Budget law of 30 billion but of these 14 will be in deficit. In addition to all this – we read in La Stampa – two aspects are of concern: spread That it started to rise again and yesterday it reached i 200 pointsthe highest since last March ei BTP yields at 4.96% they are an additional problem. The international context does not help Giorgia Meloni. The price of oil on the markets fluctuates around $90 a barrela threshold that pushes experts to ask whether the inflation flare-up is effectively over.
If inflation shows no signs of decreasing, the central banks are forced to keep rates high of interest. And if rates remain high – continues La Stampa – the yields on government bonds rise. “European bond market hit by Italy’s plan for higher borrowing”, was the headline on the website last night Financial Times, like it or not the point of reference in Europe for those who invest. So Italy and beyond: French ten-year bonds are currently paying off interest above 3.5 percentthe highest since 2011.
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Spanish ten-year bonds rose 4 percent, the highest level since 2013, while English ones exceeded 4.5 percent. The government’s decision to raise the spending forecast for 2024 from 3.7 to 4.3 percent of GDP fueled the fibrillations on the markets. We are still far from the numbers of 2011 and 2018, when the risk in Italy reached historic highs. However, we have returned to the levels of last March, at the time of the American crisis Silicon Valley Bank. Investors are wondering whether Italian debt, the third largest in the world among rich countries, will remain sustainable in the long term.
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