Italy: Spread doesn't reflect 'fondamentals' of economy

11 July, 18:42

(ANSAmed) - Rome, July 11 - The high borrowing costs Italy is currently paying to service its huge public debt are not justified, given the many strengths of the country's economy, Bank of Italy Governor Ignazio Visco said on Wednesday.

The spread between 10-year Italian bonds and the German benchmark is very high at the moment despite Premier Mario Monti's government adopting a series of structural economy reforms and measures to restore the nation's public finances to health and move it from the centre of the eurozone crisis.

"The spread is a lot higher than what is justified by the fundamentals of our economy," Visco said. (ANSAmed).

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