Comments by Italian lower house budget committee head Claudio Borghi
- Italy is much more cautious than France on deficit
- Debt-to-GDP will shrink under current fiscal plan
- Any idea of leaving the euro is 'out of the window'
Once again, Borghi is attempting to play down the worries related to Italy's budget planning. I believe if the budget does show promising signs of improving economic growth, it'll help calm some nerves in the Italian bond market. But then with lawmakers not willing to budget from the deficit target, it makes it tough to see any brighter prospects to come for Italy with rating agencies likely to weigh in with downgrades to sovereigns at the end of the month.
