Target Italian increase Minimum of 10% Debt Letter

From Italy reported that Italy raised the target issuing debt to nearly 10 percent this year, and hopes to capitalize on the demand from Asian investors use to achieve that purpose.In an interview, Head of Debt Management Italy, Maria Cannata says treasury has increased the gross funding target for 2013 of just over 450 billion euros ($ 589 billion) from the previous arrangement that is 415 billion euros.

New estimates will be adjusted to meet the country after finishing his promise to pay back 40 billion euros in arrears to private enterprises that lack of money in 2013-2014.It takes into account the budget deficit deteriorate due to the longest recession in Italy for two decades.

"We will distribute the additional publication of all letters evenly on the debt," Cannata said, adding that the action will have influence on policy treasurer who seek to extend the average maturity of debt Italy. In 2012, cash funding according to 465 billion euro target.


However, during the first half of this year should rely on short-term due to overwhelming demand from investors who fear the euro zone debt crisis.

This year, the bright future of Europe because the European Central Bank promised to memberli obligations in certain circumstances when necessary. However, Italy is still in political deadlock following the convincing voice in February and procedure for the selection of a new president will begin on April 18. Similarly, as reported by analisadaily, Thursday (18/04/2013).