Rome
Italy, which will end the year 2020 with a public debt equal to 158% of its GDP, has never borrowed so cheaply.
We knew that the German signature represented such security for investors that they were ready to pay to lend it.
But who would have imagined that Italy could one day benefit from it in turn?
However, for the first time on October 13, the Treasury borrowed for 3 years by offering coupons representing a negative return of 0.14%.
While 3.75 billion euros of securities were offered, the demand was for 5.24 billion, a sign that investors are flocking to the Italian signature, even when it no longer brings in anything.
Admittedly, the phenomenon benefits all the countries of the euro zone, starting with those which still offer positive returns, like Spain and Greece.
Because between the giant anti-crisis plans of the States and the strategy of the ECB which ensures "
whatever it costs
" their liquidity by buying back their securities through its
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