Italy in crisis as economic outlook slashed to ‘NEGATIVE’: Country now EXPOSED to shocks

Italy in crisis as economic outlook slashed to ‘NEGATIVE’: Country now EXPOSED to shocks

Fitch Ratings slashed its rating from “stable” to “negative” after Italy’s new populist leader Matteo Salvini vowed to cut tax.

Italy remains defiant with the Lega-Five Star Movement coalition saying it could even breach the EU’s budget limits to carry out its election promises.

Branding the coalition a government of “new and untested nature”, Fitch said Italy could easily plunge into economic crisis due to a shock, be that a short-run fluctuation or a significant change of economic growth.The agency said: "Fitch expects a degree of fiscal loosening that would leave Italy’s very high level of public debt more exposed to […]

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