World Economy

No Risk for Italy

No Risk for ItalyNo Risk for Italy

Italy’s finance minister, Pier Carlo Padoan, sees no risks for Italy’s economy following the worsening of the Greek debt crisis and says that the European Central Bank has all the tools to intervene to stabilize spreads and avoid any speculative attacks on Italy or the Euro as a whole, if it is needed, Dow Jones reported. Padoan said that a Greek default would not lead to an increase of Italian debt. “I wouldn’t be surprised or worried if there is high volatility on the markets,” he said. “The ECB has all the tools to handle that.”