A few highlights from a wide ranging speech.....>

ECB: A few highlights from a wide ranging speech by Bank of Italy Governor / ECB

Governing Council member Visco:

- "Steps must be taken to counter the significant risk of low inflation and the

marked fall in economic activity from translating into a permanent reduction in

expected inflation or into the possible resurfacing of the threat of deflation"

- The EUR750bln "Next Generation EU" plan "is an important opportunity to

prepare a common response which, alongside the monetary measures, is

proportionate to the seriousness of the crisis"

- "European funds can never be 'free of charge': Europe's debt is everyone's

debt and Italy will always contribute greatly to the funding of European

initiatives... But joint, strong and coordinated action will protect and

contribute to relaunching production capacity and employment throughout the

European economy."

- Re Italy: "The sustainability of the public debt is not in doubt, but its high

level relative to GDP is being maintained by" low growth potential.