Salvini Says Italian Spread Won’t Touch 400 in Dare to Investors
- League leader sure 10-year spread won’t reach 400 basis points
- Five Star’s Di Maio also pledges not to go back on budget plan
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Italian Deputy Premier Matteo Salvini said he is “absolutely sure” the spread between Italian and German bond yields won’t reach 400 basis points, signaling his determination to ride out the market storm triggered by his government’s budget plans.
Salvini, leader of the anti-migrant League, and Luigi Di Maio of the anti-establishment Five Star Movement both insisted Wednesday that they’ll stick to their costly election promises as the 10-year spread, a key gauge of financial strain, touched 308 basis points. The last time the gap reached 400 was in 2012 at the height of the European debt crisis.