"Silvio Berlusconi scares investors again". This is the headline this morning of Les Echos, the French financial newspaper, linking the widening of the spread to 172 points to the interview given to Libero on Sunday in which the leader of Forza Italia signaled his support for the idea of a currency alongside the euro .
"It's not a new idea, but we see that, with people starting to position themselves for the Italian elections, stories like this attract more and more attention," commented ING strategist Benjamin Schroeder.
"The political risk in Italy is high" warns a note from Citi noting that, taking into account the programs of the Lega and 5 Stars, the risk of an Italexit from the euro is potentially high.
Lorenzo Codogno of LC Macro Advisors, chief economist at the Treasury for ten years, predicts that the idea of a parallel currency will not take off, but considers the fact that the proposal could officially become part of the center-right program "disturbing". “Italexit – concludes the economist – frightens the electorate”. In short, a first preview of the future turmoil leading up to the vote.
BTP JUMPED OVER 2,125%. THE SCISSOR WITH THE BUND AT 172 POINTS
Yesterday the Italian secondary closed down a session spent in the sign of weakness, which saw the 31-year yield jump to its highest level since 2,125 July last, at 170%, and the spread with Germany break the threshold of 163 points upwards ( from the previous 172 basis points) to reach the highest since mid-July at XNUMX basis points. And today the pressure on the BTP continues.
