Saturday, August 6, 2011

Italy Claims That ECB Will Purchase Italian Debt

link here to article

Italian financial minister states that the European Central Bank (ECB) will begin purchasing Italian debt on Monday. Italy plans to amend its constitution by passing a balanced budget amendment. This is intended to assure creditors that Italy will be fiscally responsible. It will be interesting to see if Italy can stimulate economic growth, that is needed to pay down its debt, while government balances its budget.

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