The Italian-German 10-year bond
spread fell below 300 basis points, to 299.4 with a yield of
3.54% and the Milan bourse showed a 1.32% gain after Deputy
Premier Matteo Salvini said the government had a few ideas on
calming the financial markets.
The spread had hit 317 points with a 3.7% yield and the bouse
was 0.15% down earlier.
Salvini said he was sure Italians "are ready to give us a
hand" and bring down the bond spread by converting their foreign
bonds into Italian ones.
"The strength of Italy, which none of our friends sitting at
the table today has, neither the French nor the Spanish, is
private saving that has no equal in the world," he said at a G6
meeting in Lyon.
"For the moment it is silent and is invested in foreign
bonds. I am convinced that the Italians are ready to give us a
hand".
The government will not "keep still" if the spread rises
further, Salvini said.
"We have a few ideas," he said in Lyon.
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