The resulting increase in the risk premium on government debt was transmitted to private sector borrowing costs at a time when share prices were falling. Our latest growth projections for Italy in 2019 published in January’s Economic Bulletin stand at 0.6 per cent, in line with those of the leading national and international forecasters, but with significant risks on the downside.
Immediate actions are taken where the existence of the institution is in jeopardy owing to insufficient preparations for the Year 2000. With regard to the timetable, German banking supervisors have not set any official target dates, yet they have made it perfectly clear in discussions and surveys that the external testing of these systems should be completed by mid-1999.