Sunday, April 7, 2013

Italy approves €40 billion private sector debt payback

Italian caretaker government has approved an urgent decree to reimburse a debt of 40 billion to private companies, the Italian Prime Minister Mario Monti said on Saturday. The move is meant to provide the country’s firms with vital liquidity and stimulate growth in the recession-stricken Italian economy that shrank by 2.4 percent in 2012.

This payments, amount to 422,000 euro on average and encompass some 215,000 companies, could begin as early as Monday, Italy’s Finance Minister Vittorio Grilli said, although the final approval by the country’s parliament is still needed. The Italian state owes two-thirds of those debts to medical companies supplying the public health sector.

No comments:

Competitiveness, climate, security Finn’s priorities Ministry of Finance release Finnish road map of EU presidency. Finland is set ...