Italy's credit rating is at risk due to its higher budget deficits, according to Scope Ratings. The deficits could make Italy ineligible for bond support under the European Central Bank's latest scheme, which would have a negative impact on Rome's credit profile. Prime Minister Giorgia Meloni's plan to delay a return to the region's budget deficit limits is seen as irresponsible and could lead to a collision with the European Commission, the central bank, and investors. Italy's high debt-to-GDP ratio is also a serious vulnerability, according to the Bank of Italy. The country is seeking EU budget flexibility amid concerns of Eurostat's deficit revision. Fitch also notes that Italy has significantly loosened its fiscal plans.
🇮🇹 FITCH: ITALY SIGNIFICANTLY LOOSENS ITS FISCAL PLANS
Italy seeks EU budget flexibility amid concerns of Eurostat's deficit revision https://t.co/Kcc0Cx9oLJ https://t.co/mO7zzCIDS0
🇮🇹 BANK OF ITALY: ITALY'S HIGH DEBT EXPOSES COUNTRY TO RISKS ON FINANCIAL MARKETS
🔴 ITALIAN CENTRAL BANK: ITALY'S HIGH DEBT-TO-GDP RATIO IS A SERIOUS ELEMENT OF VULNERABILITY.
🔴 BANK OF ITALY: ITALIAN GOVERNMENT GROWTH ESTIMATES ARE PLAUSIBLE, BUT RISKS ARE HIGH AND DOWNWARDS.
Italy battles for flexible EU budget rules as bond spreads widen https://t.co/Gf2IT69wER https://t.co/a9YkCG2PY7
🇮🇹 ITALY BATTLES FOR FLEXIBLE EU BUDGET RULES AS BOND SPREADS WIDEN Full Story → https://t.co/DUhxBNx7TT https://t.co/0MQPjKFUO3
Italy is one of the euro-zone’s most indebted member states. Its government has not woken up to how its spending plans now look unsustainable https://t.co/fLr5MNxzf3
In an ideal world, Italy would follow Europe’s fiscal rules. But the rules are not realistic and, as past experience shows, difficult to enforce https://t.co/oGp9FsQyc0
Prime Minister Giorgia Meloni’s plan to delay a return to the region’s budget deficit limits leaves Italy exposed, German ratings company Scope Ratings says https://t.co/uZ7H5CR8DR
Prime Minister Giorgia Meloni’s plan to delay a return to the region’s budget deficit limits leaves Italy exposed, German ratings company Scope Ratings says https://t.co/XuzLWfU3tf
Italy’s budget plans look especially irresponsible. Unless Giorgia Meloni, the prime minister, reins in spending, she looks set on a collision course with the European Commission, the central bank and investors https://t.co/8JiLL6lmwS 👇
Italy's higher budget deficits this year and next could make it ineligible for bond support under the European Central Bank's latest scheme, which would be negative for Rome's credit profile, Scope Ratings said https://t.co/urAuOUpaV8
Italy's higher budget deficits this year and next could make it ineligible for bond support under the European Central Bank's latest scheme, which would be negative for Rome's credit profile, Scope Ratings said. More here: https://t.co/GN9BrLokQg
Italy's deficit hikes could threaten its credit rating - Scope https://t.co/JI40xJqXAK https://t.co/OvpfD3zbWY