Italy Tops League Table of Major Euro-Area Fiscal Support

(Bloomberg) -- Italy topped the major euro-area nations in fiscal support as a share of the economy in the Covid crisis, according to figures on emergency spending through Dec. 1 from national central banks provided by the Bank of France. The data account for effective spending, stripping out plans that didn’t materialize or unused loan guarantees. “France’s fiscal support is at least comparable to its European neighbors’ and above Germany’s, where initial announcements were much stronger,” Bank of France Governor Francois Villeroy de Galhau said.

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