Reuters - Italy's liabilities towards other eurozone central banks fell compared with their record high in the previous month, central bank data showed on Tuesday, although it might prove only a temporary reversal of the upwards trend.
Italy’s new budget law will extend energy relief measures, introduce small tax cuts and reform pension payments that will require about 21b euros ($21b) of additional borrowing, according to people familiar with the matter.
Italy's net energy import costs are set to more than double this year to nearly 100b euros ($99.5b), the economy minister said, warning Rome could not spend indefinitely to cushion the blow on the economy.
Italy is headed for an early election after its president accepted Premier Mario Draghi’s resignation Thursday and decided there was no possibility for cobbling together another government following the rapid collapse of the ruling coalition.
Italy on Monday declared a state of emergency for areas surrounding the river Po, which accounts for roughly a third of the country’s agricultural production and is suffering its worst drought for 70 years.