Seeking Alpha

Italy again delays payment of commercial debt

  • Italian Economy Minister Pier Carlo Padoan says the country will not make its debt repayment to private sector suppliers until the end of the year. This marks the third time the payment was delayed in 2014.
  • The European Commission has already opened a formal infringement procedure against Italy for failing to abide by its Late Payments Directive. The law requires governments to reduce payment delays to no more than 60 days.
  • Italy currently owes approximately €75B ($102B) to private suppliers, and the suspended payments have triggered layoffs, factory closures and even bankruptcies.
  • ETFs: EWI, ITLY, ITLT
From other sites
Comments (1)
  • 11146471
    , contributor
    Comments (1170) | Send Message
     
    Bella Italia!
    7 Jul 2014, 09:05 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs