Italy has Europe’s highest Covid-19 death toll and faces a sharp GDP decrease for 2020. The governing parties have ruled out taking up a European Stability Mechanism credit line and are seemingly holding out for fully mutualised debt from a European safe asset, known as ‘coronabonds’.
Pier Carlo Padoan, a member of the Democratic Party in the Italian Chamber of Deputies and former finance minister, joins Antonio Armellini, former Italian diplomat, to discuss the Italian political position within Europe and in its steps towards funding recovery.