Published on 6 June 2012 at 15:30

Also grappling with difficulties in finding funds to finance its debt, Italy continues to suffer from the aftermath of a series earthquakes that since May 20 have so far caused 25 deaths. The Italian government has estimated reconstruction costs of 2 billion euros and has asked Brussels not to figure these in when calculating Italy’s 2012 deficit. This is to avoid sanctions imposed by the fiscal compact.


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