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Contenuto principale

- THERE IS NO SUCH THING AS A CASH DEFICIT OF NINE BILLION

Press release N° 24 of 02/17/2010

With regard to newspaper articles according to which Banca d'Italia may have advanced to the Ministry of Internal Affairs a sum of € 9 billion for which "there is no coverage," it is pointed out that this treasury advance concerns recorded payments that have been entered in the outstanding accounts.

The layout of outstanding accounting items are merely accounting arrangements. Therefore, they do not have a negative impact on the balance of public finance, inasmuch as they have been duly and entirely considered in the course of the years those expenditures were effectively sustained.

Rome 02/17/2010
IT

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