Bank of Italy Governor
Ignazio Visco said Tuesday that there is less risk now of
"contagion" for Italy from Greece's debt-market woes than during
the global financial crisis in 2011-2012. The proof is in
Italy's relatively narrow spread with Germany, below 130 basis
points, said Visco after G-20 meetings where the Greek debt
crisis dominated. "The measures taken by Europe have convinced
financial markets that the monetary union is not just a fixed
exchange rate system but a real union," he said.
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