Domenica, 21 Ottobre 2018

Letta says credibility needed to pay debt


Turin, September 12 - Italy needs credibility on
the international financial markets to be able to pay down its
huge public debt, the biggest in the eurozone after Greece's,
Premier Enrico Letta said Friday.
"To pay our debts we have to be credible because no one will
buy our debt if we aren't," Letta said amid uncertainty over his
government's future that has driven up borrowing costs.
Letta called the public debt "the No. 1 problem of the
country, a nightmare that is eating our future as we try to
solve today's problems with our children's money".
Italy's sovereign debt is around 130% of gross domestic
product and has made investors wary since the onset of the euro
Letta's unprecedented left-right government is threatened by
a looming showdown between the main partners, his centre-left
Democratic Party and ex-premier Silvio Berlusconi's centre-right
People of Freedom (PdL) party, over Berlusconi's ejection from
the Senate following a tax-fraud conviction.

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