Italy’s Budget Isn’t as Crazy as It Seems - Bloomberg
...The outlook for the global economy is deteriorating more rapidly than forecasters realize. A slowdown in China has hit global trade, European exports are decelerating, and euro-area business sentiment is sharply down. All this can’t help but affect Italy, where industrial production is barely increasing and a recession may be imminent.
...Rising yields and falling bond prices put added stress on already fragile Italian banks, which hold large quantities of government bonds.
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