Arab Today, arab today italy needs ‘quiet’ markets not eu aid
Last Updated : GMT 10:24:43
Arab Today, arab today
Arab Today, arab today

Italy needs ‘quiet’ markets, not EU aid

Arab Today, arab today

Arab Today, arab today Italy needs ‘quiet’ markets, not EU aid

Rome - AFP

Debt-laden Italy does not need rescue funds from the European Union but could use “a little quiet” on the markets, Finance Minister Vittorio Grilli said in an interview published on Sunday. “We think the instruments put in place by the Central European Bank, when they are operational, will substantially ease tensions on the spreads” between bond yields in Italy and Germany, he told the left-leaning daily La Repubblica. “The only thing that would be useful is a little quiet on the markets ... normalised market conditions that would allow an orderly renewal of our bond issues,” he said. The remarks came after reports that the government of Prime Minister Mario Monti had discussed asking EU rescue funds to intervene on bond markets to help lower Italy’s borrowing costs. Using a newly agreed mechanism, bond purchases would take place when the difference with the borrowing cost of Germany, which pays the lowest rates to borrow money, rises above a certain level. Italy’s 10-year borrowing cost has sometimes soared above six per cent, a level considered unsustainable in the long term. Grilli blamed two factors — “distrust of the euro which is currently predominant, (and) an assessment of our ability to get our economy in order, which is secondary right now.” He added: “There is no ‘Italy case,’ and if there were one, it has largely vanished in recent months thanks to the actions of this government.” While declining to compare Italy’s budget situation with that of Spain, he said: “Italy is currently one of the most virtuous countries in the world and certainly in Europe.” In the coming months, Grilli ruled out new austerity measures by Monti’s technocrat government. Such a move “would only depress further an economy that is already in recession,” he said. The government has also ruled out steps such as taxes on large inheritances, having already assured a stronger revenue flow through higher taxes on property and investment income. In the face of Italy’s staggering debt of nearly 2.0 trillion euros ($2.5 trillion), or 123 per cent of the gross domestic product, Grilli confirmed that he would unveil a plan to reduce the equivalent of one percentage point of GDP per year by selling off state-owned real estate. Along with budget cuts aimed at reducing the debt by 3.0 per cent per year, Italy will be able to lower the ratio of debt to GDP by 20 points in five years, he said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today italy needs ‘quiet’ markets not eu aid Arab Today, arab today italy needs ‘quiet’ markets not eu aid

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today italy needs ‘quiet’ markets not eu aid Arab Today, arab today italy needs ‘quiet’ markets not eu aid

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Italy regions back 'big bang' autonomy

GMT 07:10 2017 Monday ,23 October

Italy regions back 'big bang' autonomy
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Iraq's Barzani isolated by his drive

GMT 04:36 2017 Tuesday ,24 October

Iraq's Barzani isolated by his drive
Arab Today, arab today Maltese demand justice for murdered

GMT 06:08 2017 Monday ,23 October

Maltese demand justice for murdered
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Lost Australia diver swam miles

GMT 19:09 2017 Monday ,23 October

Lost Australia diver swam miles
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today EU targets German carmakers

GMT 05:41 2017 Tuesday ,24 October

EU targets German carmakers
Arab Today, arab today Tesla to build wholly-owned plant

GMT 07:55 2017 Monday ,23 October

Tesla to build wholly-owned plant
Arab Today, arab today Sherine Reda frustrated of latest terrorist attacks

GMT 09:03 2017 Monday ,23 October

Sherine Reda frustrated of latest terrorist attacks
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'

GMT 08:12 2017 Saturday ,21 October

Donia Abdel Aziz aspires to return to cinema

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 05:27 2017 Monday ,23 October

Travel plea for conjoined twins

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 08:06 2017 Tuesday ,24 October

Second Palestinian mobile provider enters Gaza

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday