Italian PM is Optimistic that High Sovereign Debt Won’t be Penalized

June 21, 2019 Share Print 0

Italian prime minister Giuseppe Conte told CNBC he was optimistic about the possibility that the European Commission would not pursue an excessive deficit procedure (EDP) – against his government for the continued high levels of Italian sovereign debt.

Italy wrote a letter to the EU’s executive branch earlier this week insisting that Rome would respect and abide by current fiscal rules that form part of a treaty agreement known as the growth and stability pact.

But the Italian premier said the missive contained a pledge to try and alter that framework to help support an Italian economy that has long lagged behind most of its European peers.

via CNBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.