Thursday, December 7

Italy has flexibility to manage rate volatility – head of debt

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ROME — The Italian Treasury has the flexibility and financial firepower needed to overcome market volatility, Italy’s head of debt management was quoted as saying on Saturday in an interview with La Repubblica newspaper.

“Nobody can be comfortable at a time like this, but it is a manageable situation, considering the whole toolbox at our disposal, including 80.2 billion (euros) in liquidity at the end of May,” Davide Iacovoni said.

“This means that we can reschedule the auctions, taking into account various timeframes,” he added. (Reporting by Stefano Bernabei Editing by Crispian Balmer and Mark Potter)