Venerdì, 19 Ottobre 2018

IMF working paper urges Italy to confront eurozone fragility


New York, April 3 - To contain economic risks it
is important to reduce outside criticism and confront Italy's
fragility in the eurozone, a working paper published by the
International Monetary Fund said on Wednesday.
The considerable Italian government debt could make
corporate borrowing more costly for domestic firms and "reduce
the chances of recovery in the second half of 2013," said senior
economist Edda Zoli.
The rise in the premium paid by Italian 10-year government
bonds over their safer German counterparts continues to generate
higher borrowing costs for domestic firms, the paper said.
"About 30-40% of the increase in the sovereign spread is
transmitted to firm lending rates within three months, and
50-60% within six months," Zoli said.
The country's 40 billion euros in public debt means that
rising borrowing costs carry a heavier burden than in other
eurozone countries.

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