Papi’s tax: How Berlusconi increases Italy’s bond spread: Tito Boeri, 4 October 2011
Today Italian five-year governments bonds are insured at 70 basis points above Spanish ones. In June it was the other way around. This column argues that this increase in Italian spreads is due not only to policy and communication failures but also to Berlusconi’s lack of personal credibility. The costs of such bad handling of the crisis could be of the order of €20 billion.
Full Article: Papi’s tax: How Berlusconi increases Italy’s bond spread
Today Italian five-year governments bonds are insured at 70 basis points above Spanish ones. In June it was the other way around. This column argues that this increase in Italian spreads is due not only to policy and communication failures but also to Berlusconi’s lack of personal credibility. The costs of such bad handling of the crisis could be of the order of €20 billion.
Full Article: Papi’s tax: How Berlusconi increases Italy’s bond spread
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