Central bank governor Ignazio Visco
said Wednesday that Italy has growing public debt and "there are
doubts that we will be able to sustain it".
He added that "it is possible to sustain it" but only under
certain conditions, including that "growth that exceeds the
burden of interest on the debt itself".
He was speaking at the conference "Il Pensiero di Keynes
nell'Europa e nel Mondo di Oggi" ("Keynes's Thought in Europe
and the World of Today") organised by Italian think tank ISPI.
Visco noted that, in his final May recommendations he had
provided a graph showing that Italy "is the only advanced
country in which the burden of interest on debt exceeds the
growth rate by a great deal".
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