Low nominal interest on government bonds are good news, in that they slow down the dynamics of public debt and encorage spending. Thus the recent auction of one-year government bonds (BOT) where the Italian Treasury was able to sell 7 billion worth of paper at a yield of 0.279%, down from the previous record low […]
On the Sustainability of the Italian Public Debt
On June 26th, I took part to the Conference on The Sustainability of Italian Public Debt, Non-Standard Proposals”, which took place at the Corriere della Sera Foundation, toghether with Guido Tabellini (Bocconi), Lucrezia Reichlin (LBS), Charles Wyplosz (Geneva), George Papacostantinou (ex Economy Minister, Greece) and moderated by Danilo Taino (Corriere). The slides of my presentation […]
Da Repubblica su SB
L’articolo di Bloomberg con il mio intervento su SB e il debito pubblico, è stato ripreso da Repubblica (si trova qui )
Italy’s Looming Political Crisis: Dancing Under the (Debt) Volcano
I have argued recently ( here) that the victory of the Berlusconi’s coalition in the March regional elections was a “Pyrrhus” victory. Mr Berlusconi’s People of Freedom party (PdL) lost votes to its main ally, the Northern League, and weakened considerably in the productive North. It did well in the South, however, where the League […]
The Debt Implications of Berlusconi’s “Pyrrhic” Victory
In many ways the recent Italian regional elections have been a success for ther centre-right government of Mr Berlusconi, apparently confirming the inoxidable popularity of the media-tycoon-turned politician, who has successfully survived recent corruption scandals (for the reconstruction of eathquake-stricken L’Aquila), sex scandals (the parties with prostitutes), the disclosed attempts to shut off a popular […]
How Much is too Much Government Debt?
La Reuters ha un bell’articolo di Emily Kaiser sulla sostenibilità del debito pubblico, che tra l’altro menziona un’intervista telefonica che abbiamo fatto qualche settimana fa.