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Italy presents budget burdened by coronavirus crisis

2020-04-24T20:16:13.350Z


Despite a deficit and rising debt, the rating agencies are showing leniency for the time being.


Rome feared the worst, which did not come. Friday evening, the financial agency Standard & Poor's maintained the rating of Italy to Bbb, although it forecasts a drop of 9.9% of the Italian activity this year. A move that should help ease the rate spread between Italy and Germany - the "spread" - which, after the European Council on Thursday, fell during the day from 260 to 237 points. Especially since the day before, Moody's analysis had also considered the Italian situation with a certain kindness.

Read also: The coronavirus pandemic paralyzes world trade

Would the rating agencies act this time not to throw oil on the fire? " This is the big difference with the crisis of 2010-2012, when the agencies had demoted all the countries of Southern Europe ", considers the economist Carlo Cottarelli.

The previous evening, the President of the Council, Giuseppe Conte, welcomed the green light from the European Council to the principle of a recovery fund ( read above ), " an instrument hitherto unthinkable

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Source: lefigaro

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