L'Italia, lo spread e l'inquisizione tedesca

Translated title of the contribution: [Autom. eng. transl.] Italy, the spread and the German inquisition

Marco Fortis

Research output: Working paper


[Autom. eng. transl.] Authoritative figures of the IMF have stated that based on fundamentals, the Italian spread is now over-valued by at least 200 points. As for the banks, the Italian ones also having problems, they have a lower leverage than the German ones. Not to mention the fact that German banks are much more exposed than Italian ones in peripheral countries and in Spain. Moreover, Italy has also inflicted itself, with a sea of taxes, a harsh recession (with 2012 GDP forecast to drop by 2% according to our central bank), basically to show the Germans that we are better than them in rebalancing public accounts. But neither Merkel nor the markets seem to want to acknowledge our efforts. Indeed, they reproach us for not growing up. But how much would Germany's GDP have increased in recent years with our interest rates and with the draconian fiscal care first adopted by Tremonti and then by Monti?
Translated title of the contribution[Autom. eng. transl.] Italy, the spread and the German inquisition
Original languageItalian
Number of pages3
Publication statusPublished - 2012
Externally publishedYes


  • Germania
  • Germany
  • Italia
  • Italy
  • Spread
  • fiscal consolidation
  • risanamento conti pubblici


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