The newspaper writes that a debt crisis may come in Italy in the eurozone financial times. This is because the European Central Bank has raised interest rates and intends to buy fewer bonds in the coming months.
Nine out of ten economists surveyed by the publication described Italy as a eurozone country at risk of an uncorrelated downturn in government bond markets. As they say in the material, Italy is the weakest link in the eurozone.
Prime Minister Georgie Meloni’s government is seeking to reduce the country’s budget deficit from 5.6% of GDP to 4.5% in 2023 and 3% in 2024. But Italy’s public debt remains one of the highest in Europe. It is more than 145% of the gross domestic product. This makes Italy most vulnerable to a downturn in bond markets.
Meloni criticized the ECB’s willingness to continue raising interest rates despite risks to growth and financial stability.
“It would be helpful if the ECB did a good job of communication. <…> “Otherwise, even if there is no panic, there is a risk of causing market fluctuations that will frustrate the efforts of governments,” he said.
Members of the Italian government also criticized the ECB. They do not like aggressive tightening of monetary policy.
formerly Algeria declarationthat it is ready to send more gas to France if it receives a corresponding request. President Abdelmadjid Tebboun said there is currently no demand from the French side to increase gas supplies. But Italy wanted it.