Rome

Berlusconi 'misunderstands' the spread, says Passera

'How could anyone think interest rates unimportant?'

Berlusconi 'misunderstands' the spread, says Passera

Rome, December 11 - Italian Industry Minister Corrado Passera on Tuesday rebutted ex-premier Silvio Berlusconi's assertion that the bond spread is a "con" that does not matter. "Is there anyone in the world would could think that the spread is not important? That interest rates are not important? That the credibility of the country is not important? To think otherwise is to misunderstand the concept," said Passera. "It is not the only (economic) indicator but it is an important one".

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