‘Stay Out Of Italy’: Market Sours On Italian Assets As Salvini’s Budget Broadside Adds Insult To Injury
Unsurprisingly, Italian assets came under pressure Wednesday following a series of ill-advised comments from Matteo Salvini, the country's most powerful politician.
"If we need to break some limits, we’re ready to go ahead", Salvini said Tuesday, adding that "until we arrive at 5% unemployment, we will spend everything that we should, and if someone in Brussels complains, that won’t be our concern."
He was referring to EU rules around deficits and debt-to-GDP ratios. BTPs slid on