20 April 2026 Eurozone Monitor Energy shock tests Italy's fiscal rectitude more than Spain's
16th Apr 2026 18:05EurozoneWeekly Monitor
- Italy risks breaching the EU’s 3% deficit-to-GDP rule in the event of a prolonged energy shock.
- Spain’s budget stalemate since late 2022 gives it the fiscal firepower to mitigate the hit to its economy.
- Borrowing costs could climb higher still, but policy backstops will keep EZ bond markets relatively calm.
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