Italian bond yields jump after report that 5-Star, League want ECB to forgive debt

Reuters/Staff/5-16-2018

“Borrowing costs in Italy jumped in early Wednesday trade, pushing out the gap over benchmark German bond yields after a report that Italy’s 5-Star and League plan to ask the ECB to forgive 250 billion euros of Italian debt.”

USAGOLD note:  There has not been further confirmation of this report since Reuters published on Wednesday, but it is interesting nevertheless.  There is much going on behind the scenes in Italy on its future direction, and much has been said, but nothing as yet has surfaced on the actual 5-Star/League program with respect to its relationship with the rest of the European Union.

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