Populist plans set Italy on a collision course with Brussels - News Summed Up

Populist plans set Italy on a collision course with Brussels


Italian populists on the brink of forming a government remained defiant yesterday as markets trembled over leaked revelations that they plan to write off billions of euros of debt. Italian stocks slid on the news and borrowing costs increased as financiers reacted to a policy document saying that the Five Star Movement and the anti-migrant League had considered procedures for leaving the euro and writing off €250 billion in debt. The spread between Italian and German bonds widened sharply — showing a lack of confidence in Italian economic plans — despite the parties claiming that the document had been superseded since it was written on Monday and that they no longer wanted to leave the euro. Matteo Salvini, the League leader, dismissed the turmoil as…


Source: The Times May 16, 2018 23:00 UTC


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