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Italy's €123 Billion debt problem


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Bloomberg reports that Italy has a €123.2 billion debt mountain from COVID-backed state support which, as of June 30, is outstanding.

The debt has been rising too as it has increased from the previous quarter of €118 billion.

Despite not being the largest country, it has the largest government-guaranteed debt yet to be repaid in the Eurozone.

The problem that is building is that the energy crisis is lingering on, inflation remains high, and Italy is expected to contract 0.2% in 2023, according to the IMF.



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