Monti says that elevated spread 'damages all'

Italian premier to meet German chancellor in Berlin Wednesday

Monti says that elevated spread 'damages all'

(ANSA) - Berlin, August 29 - Italian Premier Mario Monti warned on Wednesday that a rise in the spread between 10-year Italian bonds and the German benchmark bund was "damaging for everyone". Monti said in an interview with the Italian economic daily Il Sole 24 Ore that Germany needs to watch out for inflation levels. The premier will meet with German Chancellor Angela Merkel in Berlin on Wednesday to discuss the economic situation in the eurozone, reforms in Europe, the crisis in Greece and the so-called spread shield that would allow EU rescue funds to be used to support the bonds of countries facing soaring borrowing costs.

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