The Italian right-wing Lega party denied reports that it’s seeking a 250 billion euro ($ 296.16 billion) debt write-off if it becomes part of a power-sharing deal with the anti-establishment Five Star Movement (M5S).Lega and the left-wing M5S have been locked in negotiations for more than two months, trying to find a political deal that would allow them to jointly govern Italy. This comes after a stalemate at national elections back in March where no party gained enough votes to go it alone.According to the Huffington Post Italy, which cited a draft of their negotiations dated May 14, the two parties were seeking to ask the European Central Bank (ECB) for a debt haircut of 250 billion euros. It also included a request for a mechanism that would allow member states to exit the euro zone. However, an economics spokesman for Lega denied Wednesday that the request was ever in the draft program.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at firstname.lastname@example.org. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.