Italian Bonds Fall While Populists Debate $300 Billion Write-Down
- The yield on 10-year notes rose on news of debt write-off plan
- Talks between parties drag on as parties struggle to find deal
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Italian bonds slumped as populist parties struggling to form a government discussed a potential government debt write-down worth billions of euros.
League lawmaker Armando Siri told La7 television on Wednesday that the anti-immigrant League and the anti-establishment Five Star Movement are discussing a 250 billion euro ($300 billion) write-off from the European Central Bank. He was confirming an earlier report on a draft plan by the Huffington Post.