Renzi revels in narrowing spread of 169 points
'Lowest since 2011' boasts premier in Brussels
02 April, 19:13
(see related)
(ANSA) - Rome, April 2 - Speaking from Brussels, Italian
Premier Matteo Renzi on Wednesday reveled in the spread
narrowing "to its lowest point since 2011".
The spread between the Italian BTP State bond and its
ultra-safe German equivalent was below the 170-basis-points
mark, to 169, for the first time since the start of June 2011 at
the close of trading on Wednesday.
The bond spread is an important measure of investor
confidence in Italy and of the country's borrowing costs.
Italy risked a Greek-style financial meltdown late in 2011
when the spread went over 500 points with yields above 7%.
On Wednesday the yield was 3.3%.The country's borrowing costs have been falling since Premier Matteo Renzi unseated his Democratic Party colleague Enrico Letta in February and took the helm of government promising to revive the economy and reform the country's slow and expensive political system.
