Rates, elections… Italy worries the eurozone: the Stock Exchange Council

L’Italie, qui voit ses taux à 10 ans se hisser à plus 4%, sera sous les projecteurs ce dimanche, une victorious de Giorgia Meloni, leader du parti d’extrême droite Fratelli d’Italia, étant attendue à l’occasion since Parliamentary election. She should become the next Boot Prime Minister, forming a centre-right coalition, bringing together Fratelli d’Italia, Lega and Forza Italia. However, the visibility of Giorgia Meloni’s program “will depend on the ministers appointed and whether they belong to the Italian political establishment or to a Eurosceptic base”, warns Carmignac, while the opposition party Fratelli d’Italia “raises doubts about his ability to navigate the Italian and European institutions”.

Italy has seen its growth resist well this summer and will be one of the main beneficiaries of the recovery efforts of the European Union (EU), with “200,000 million euros (to be received) under the recovery and resilience plan of the European Commission ”, emphasizes the asset manager. However, there are many reasons to worry. Italy is one of the European countries most exposed to the energy crisis and its 10-year interest rate has followed a vertical path since one year.

And the impact of the rate hike “has not yet been fully felt”, warns Carmignac, who stresses that the recession “should hit in the coming quarters”, with the key being a public deficit in 2023 that will most likely deteriorate . worse than expected, after years (…)

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