A Bundesbank Economist Has a Radical Plan to Halve Italy's Debt

Italy’s populist government doesn’t need to ask for money from European partners to halve its debt -- it could tap the large private wealth of its citizens, Bundesbank economist Karsten Wendorff suggested.

The radical proposal echoes the debate in Italian media over a potential “wealth tax.” Unlike a tax, however, it wouldn’t directly eat into the patrimony of the country’s families, according to its proponent, who heads the German central bank’s public finance department.