Italy has high debt but public finances in much better shape than past says Panetta

Fabio Panetta, Governor of the Bank of Italy, stated that while Italy has a high debt level, its public finances are significantly improved compared to the past. Speaking at the International Festival of Economics in Turin, he highlighted that interest rate increases, primarily driven by the US, are impacting Europe, which is experiencing slower growth than the US. He noted that interest rates have risen less in Germany, more in Italy, and even more in France, which has larger deficits.