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The Bank Of Italy was out with some comments on the recent hot topic of Italy’s budget proposal and said that expansionary Italy budget does not guarantee growth and that the government GDP growth targets look ambitious considering the recent economic trends.

Additional quotes:

   “¢   Hopes Italy can reach a deal with the EU that matches respect of the rules with support for the economy.  
   “¢   Rising borrowing costs risk cancelling out the expansionary impact of the budget.
   “¢   Cuts in company tax breaks would make any future capital increases for banks more expensive.