Economics

ECB’s Visco Says Italy Must Spend EU Money Well, Cut Debt Burden

Bank of Italy governor speaks in Bloomberg interview
Italy’s third quarter data looks better than expected

WATCH: Visco warns against the “too-early withdrawal of policy” and says pre-Covid economic levels won’t return for at least two years.Source: Bloomberg

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By Alessandra Migliaccio and Francine Lacqua

October 16, 2020 at 9:21 AM UTC

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Italy must spend its recovery fund money well to create growth and reduce its debt burden, Bank of Italy Governor Ignazio Visco said.

“Italy’s debt is sustainable, the issue is the burden of debt,” Visco, who also serves on the European Central Bank’s Governing Council, said in a Bloomberg Television interview with Francine Lacqua on Friday. “I’m confident on the fiscal side, the real problem has been the ability to grow.”