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The consequences of Italy’s increasing dependence on domestic debt-holders

Jan Mazza, (2018), «The consequences of Italy’s increasing dependence on domestic debt-holders», Bruegel, 6 Νοεμβρίου

What could happen then, if the government indeed had to revise its estimates downward and provide a rebalancing of its fiscal position (either through increased revenues or lower expenditure)?

Several signals point to the usual suspects: Italian residents, and their still substantial private wealth. On this, there is perhaps surprising agreement between the Italian ruling parties and some German views. Matteo Salvini, deputy prime minister and minister of the interior, has already suggested that tax cuts might be granted to Italians investing in domestic bonds.

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