The spread between Btp and Bund flies too high, putting banks and businesses in difficulty. Looking ahead, moreover, if the differential were to continue to move between 350 and 400 basis points, "the cost of funding for credit institutions will increase further, consequently also increasing the cost of credit for companies". The general manager of the ABI, Giovanni Sabatini, sounded the alarm, who then railed against the three American rating agencies, guilty of having cut the ratings on Italy's debt in the space of a few weeks.
The latest downgrade is that of Fitch, who arrived last Friday: "I wonder then - continues Sabatini - whether it still makes sense that important pieces of stability regulation as well as essential mechanisms for liquidity management in Europe should depend on the assessments of a monopoly of three subjects, not subject to supervision, whose judgments are opaque, subjective if not interested".
At the end of the morning, the Italian spread stood at 352 basis points, just below the closing recorded on Friday, at 354. Fitch's downgrade, like that of Standard & Poor's and Moody's already, therefore did not have significant effects on the spread our country.
