Giovedì, 18 Ottobre 2018

Van Rompuy praises Italy's 'impressive' reforms


(ANSA) - Brussels, September 5 - Italy has undertaken
positive reforms that will help its economy in the long run,
European Council President Herman Van Rompuy said Wednesday.
Speaking to a gathering of European Union diplomats, Van
Rompuy praised Italy and said that among countries at the centre
of the eurozone debt crisis, Italy in particular, "has adopted a
series of impressive structural reforms."
Structural reforms involve significant reforms to the
fundamental structure of an economy and therefore have
longer-term effects.
Other countries are also "going in the right direction," he
Unfortunately, financial markets do not recognize the
efforts being made as borrowing costs for some, as shown in the
high spread in bond yields.
"The spread levels of some countries is not always
justified by the fundamentals (of their economies)," Van Rompuy
On Tuesday the Bank of Italy said the spread between 10-year
Italian bonds and the German benchmark should be around 200
basis points, rather than its current level, which is over 400.
The central bank said the reason it was so high was not
down to fundamental weaknesses of the Italian economy but
"contagion" from the eurozone crisis.

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