Economics
Italy Dismisses German Ruling as It Maps Way Out of Virus Crisis
- Finance Minister says ruling won’t stop ECB bond buying
- Country needs to spend money to save its damaged economy
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Italian Finance Minister Roberto Gualtieri dismissed immediate risks to Italian bonds from a German court ruling which cast doubts over the European Central Bank’s crisis-fighting program.
Gualtieri told lawmakers on Tuesday that the decision won’t stop ECB asset purchases, which are crucial to keeping Italy’s borrowing costs under control. But the increased uncertainty over the scope of the central bank’s support will make it even harder for the country to map a way out of the economic crisis caused by the coronavirus pandemic.