Four Prime Ministers Later, Italy's Debt Is Still Growing: Chartby
Italy’s government debt is out of control.
Data released on Friday by Eurostat shows debt remains above 130 percent of gross domestic product, the second highest in the currency bloc after Greece. While Prime Minister Matteo Renzi has vowed to reduce this ratio through public-asset selloffs to satisfy the European Commission’s budget rules, it’s much higher than it was at the same point in 2010 when, under Silvio Berlusconi, it stood at 97.1 percent of GDP. Euro-area countries are supposed to keep debt to below 60 percent of GDP.