August 27, 2018 / 11:19 AM / 4 months ago

Italy minister says China visit not aimed at finding new buyers for debt - China radio

FILE PHOTO: Italian Economy Minister Giovanni Tria attends session of the Lower House of the Parliament in Rome, Italy, June 6, 2018. REUTERS/Tony Gentile

ROME (Reuters) - Italian Economy Minister Giovanni Tria said on Monday, during a visit to the Chinese capital, that the goal of his trip is not to find new buyers for Italian debt, denying recent speculation in the Italian media.

“The objective of the mission is to strengthen economic cooperation between our two countries,” Tria said in an interview with China’s Guangming newspaper translated into Italian by China Radio International’s website.

“Chinese investors will evaluate whether to buy Italian debt just like any other foreign or Italian investor,” Tria added. “I’m confident that the Italian government’s budget will strengthen the positive view on Italy’s financial stability.”

Italy’s populist government has roiled financial markets in recent weeks by promising to go on a spending spree next year to cut taxes and boost welfare without yet saying how it plans to rein in its debt, Europe’s second-biggest after Greece as a percentage of output.

Reporting by Steve Scherer: editing by Francesca Landini

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