Italy's coalition parties have pushed back against criticism of proposals t...
ROME - Italy’s coalition parties have pushed back against criticism of proposals to issue special government bonds to help pay state debts, highlighting growing tensions within the heart of the cabinet.
Critics say printing small-denomination bills, with no expiry date, would be akin to creating a parallel currency and as such could open the way for Italy to quit the euro. “They are always silent, still, stationary, then as soon as someone proposes something new they wake up and say “Ah, no, it can’t be done,” said 5-Star leader Luigi Di Maio, who also serves as deputy prime minister.
The Treasury has said the public administration is clearing a backlog of unpaid debt, pointing to data showing that some 20 million bills were paid in 2018, which, on average, were settled one day inside the legal limit of 60 days. Two years ago, bills were settled with an average delay of 16 days, it has said.
A likely flashpoint looks certain to be how the government responds to a threat by the European Commission to launch disciplinary action against Italy over its growing public debt.
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