Things a government minister shouldn’t say, Italian default edition
"We cannot even remotely afford that an auction of Italy’s government bonds goes uncovered…That would lead to a unique lack of liquidity for the payment of pensions and salaries. It would be like Argentina."
That’s Maurizio Sacconi, the Italian Labour Minister speaking to RAI television yesterday.
And to add a little grist to that disaster-mill, here’s the Italian Finance Minister, also speaking yesterday, but to the country’s parliament:
[Italy’s debt] will be in competition with growing issues of government’s bonds by other European countries.
FT Alphaville » Blog Archive » Things a government minister shouldn’t say, Italian default edition
"We cannot even remotely afford that an auction of Italy’s government bonds goes uncovered…That would lead to a unique lack of liquidity for the payment of pensions and salaries. It would be like Argentina."
That’s Maurizio Sacconi, the Italian Labour Minister speaking to RAI television yesterday.
And to add a little grist to that disaster-mill, here’s the Italian Finance Minister, also speaking yesterday, but to the country’s parliament:
[Italy’s debt] will be in competition with growing issues of government’s bonds by other European countries.
FT Alphaville » Blog Archive » Things a government minister shouldn’t say, Italian default edition
