bank of Italy Governor Ignazio
Visco said Wednesday "the problem in Italy is the public debt,
not the public debt on the balance sheets of banks".
He said "growth in Italy is falling and the interest rate on
debt is rising.
"Now it is double what it was only eight months ago. There is
a serious problem and it becomes even more acute when there is
underlying uncertainty that pushes those investing in public
debt to continue to insure themselves".
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