Latest Italian government data just out 13 May 2016
- vs revised €2.214trln prev
- Q1 state revenues +4.6% yy
- March govt borrowing +€21.5bln
- Q1 treasury liquid assets +€70bln
I had to take a second look at that release to see they weren't still talking in lira terms!
Italy's debt now exceeds last year's May record of €2.218 trillion despite government forecasts that have set-out a path lower from 2016 when public debt is forecast to fall down to 131.4%, then 127.9% in 2017 and 123.7% in 2018.
Meanwhile EURUSD nudging back up through 1.1350 helped by EURJPY demand back to look at 123.50
