Italy has high debt but public finances in much better shape than past says Panetta

(ANSA) - ROME, 22 OTT - Italy has a high debt but public finances are in much better shape than in the past, Bank of Italy Governor Fabio Panetta said Thursday. Italy "has a high level of debt, but its underlying public finance conditions are far better than in the past," stated Panetta at the International Festival of Economics in Turin. He noted that while the "interest rate hikes have their epicenter in the US"—and do not represent a "contagion" or a "crisis"—they are "also affecting Europe, which is growing less than the United States." The Governor explained that "interest rates have risen less in Germany, a bit more in Italy," and even more in "France, which has high deficits." (ANSA).
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