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Gov't Could Seek EUR30bn Of Extra Deficit Spending: Wires

ITALY

Wires reporting that the Italian gov't could seek an additional EUR30bn of extra deficit spending to finance the fight against the COVID-19 pandemic, above the EUR24bn initially expected.

  • The now-minority gov't of PM Giuseppe Conte is due to meet today to sign off on plans for the request to parliament.
  • Even though the gov't does not hold a majority in parliament following the withdrawal of Matteo Renzi's Italia Viva party yesterday, given the severity of the pandemic it is unlikely the request for additonal funds will be turned down.

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