ECB’s Nowotny Says Italy Not Greece, Too Early for Euro Bonds
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European Central Bank Governing Council member Ewald Nowotny said Italy’s primary budget surplus, its industrial infrastructure and its austerity program show that it can’t be compared with Greece, according to an interview with Austrian daily newspaper WirtschaftsBlatt.
Italy is a country that “can present itself as capable of being productive,” he was quoted as saying. “However, its structural reforms need time and you also need time to regain the trust of the markets.”