Italy's budget story keeps evolving, with Rome raising its growth outlook while trimming planned defense spending, even as the deficit is set to widen and unemployment has climbed
Italy's budget story keeps evolving, with Rome raising its growth outlook while trimming planned defense spending, even as the deficit is set to widen and unemployment has climbed to a fifteen-month high, a mix that muddies the fiscal picture. On the banking front, the country's largest lender has raised its takeover offer for Monte dei Paschi while signaling it could still walk away, keeping consolidation hopes alive but fragile. The spread on Italian bonds against German debt remains the key gauge to watch as markets weigh the tension between rosier growth forecasts and looser fiscal math.
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