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Italy's public debt hits record
EurActiv ^ | 14 August 2012 | ( with Reuters)

Posted on 08/16/2012 7:34:23 PM PDT by Olog-hai

Italy's public debt hit an all-time high in June of almost €2 trillion and the annual budget deficit was also bigger than a year before, due largely to Italy's share of bailouts for other eurozone states, the central bank announced.

Public debt at the end of June rose €6.6 billion to €1.973 trillion, the Bank of Italy said yesterday (13 August), as the Treasury's cash reserves increased by €10.3 billion.

Italy's benchmark bond yields remain close to 6% despite tough austerity measures introduced by Prime Minister Mario Monti's government.

With the country mired in a deep recession, markets are skeptical of Italy's ability to bring down a debt pile equivalent to around 123% of output, the second highest debt in the eurozone after Greece's. …

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TOPICS: Business/Economy; Crime/Corruption; Foreign Affairs; Government
KEYWORDS: eurozone; eussr; italy; publicdebt

1 posted on 08/16/2012 7:34:37 PM PDT by Olog-hai
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To: Olog-hai

Nigel Farage was right. Again.

2 posted on 08/19/2012 4:29:40 AM PDT by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
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