Former Italian Treasury chief economist and...>

ITALY: Former Italian Treasury chief economist and MNI Connect Board Member

Lorenzo Codogno offered some colour on today`s process in a note (as LC Macro

Advisors) last night, though obviously things may have changed this morning: 

- The meeting of the Cabinet of Ministers to approve the Updated to the Document

of Economy and Finance "should be at 1800CET. It may take 30 minutes or several

hours...My experience tells that on average it lasts a couple of hours."

- "Immediately after that, there will be a press conference with Prime Minister

Conte and Economy and Finance Minister Tria, in which they will unveil the key

fiscal targets for the next years...Only fiscal targets will be announced, and

possibly some general hints on the Budget. Details will be released by 20 Oct."

- "The actual document will likely only be published on Friday at the

earliest...the government cannot change the targets during the Cabinet of

Ministers as it would take a couple of days to re-run models and change all the

related figures and make them internally consistent. In other words, there

should already be an agreement between the leaders and the Economy and Finance

Minister at a minimum."