Italian Debt More Than Twice EU limit, Risk EU Imposes $4 Billion Penalty

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    Helmholtz Watson

    Right on the heels of Matteo Salvini’s Lega…


    Helmholtz Watson

    Italy’s Finance Minister Tria:

    Confident on 2019 targets agreed with EU
    Deficit will be lower than targeted this year
    Italy Parliament committed to 2020 fiscal targets
    Boosting growth better than fiscal adjusted acceleration


    Bank of Italy economic Forecasts

    Forecasts Italian GDP 0.1% 2019, 0.8% in 2020 and 1% in 2021
    See gross NPL ratio for Italian banks under ECB supervision at 8.4% Q1 2019 from 8.3% in Q4 2018

    Says negative balance on the target2 payment system has narrowed since start of year
    Industrial production probably fell around -0.7% QoQ in 2Q

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