While the European Commission pledged on Wednesday for disciplinary proceedings against Rome, Italian officials seem more concerned about rising interest rates on the country's very high debt.
In recent days, the Italian Finance Minister, Giovanni Tria, willingly confided to his friends that he did not fear the Brussels infringement procedure. "The budget will not change," he said again Monday, November 19, "because it is the national response to problems that are not addressed at the European level," namely the slowdown in the economy. On the other hand, the rise in interest rates worries him more. If Europe has not yet managed to change the mind of the Italian government on the 2019 budget, will the markets succeed?
In any case, the pressure has gone up a notch. In the last three days, the interest rate differential between Italian Treasury bills and the German benchmark benchmark, which was 130 points at the beginning of 2018 and which had held steady around 300 points since early November, has risen sharply to 337. points the day before the European verdict, to fall back to 309 points yesterday. "Of course, that worries me," released Tuesday …