"Changing" words on the budget
from the Italian government have "done damage" and caused
interest rates and the spread to rise, but the government has
said it will respect the rules, European Central Bank chief
Mario Draghi said Thursday.
"In the last few months words have changed many times and
what we are now waiting for are facts, mainly the budget law
and the subsequent parliamentary discussion," he said.
"Unfortunately," the ECB chief said, "we have seen that words
have done some damage, (interest) rates have risen, for
households and businesses"," although "all this has not
contaminated other eurozone countries very much, and remains a
mainly Italian episode".
Asked whether contagion risks might require ECB moves, Draghi
stressed that "the Italian premier, the economy minister and the
foreign minister have said Italy will respect the rules".
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