Press Release N° 144 of 10/07/2009
20 out of 27 European Union countries have recorded "excessive" deficits. It is easier to mention those that haven't: Bulgaria, Cyprus, Denmark, Estonia, Finland, Luxemburg, Sweden.
In these terms, over 90% of European GDP is in excessive deficit. Compared to the deficit levels recorded in other countries, Italy's is certainly not among the highest. Suffice it to say that while deficit levels in other countries are higher than 10%, in Italy it is around 5%, therefore half the figure. Italy is no exception, what in reality is exceptional, is the situation at European and world levels as a consequence of the crisis. This does not mean that we must not do our utmost to balance accounts at the earliest possible time.