MILAN May 8 Italy's debt with the European
Central Bank slightly edged down in April after hitting a
record high the previous month, as capitals flew out of the euro
zone's third-largest economy.
Italy's net debt to the ECB's Target 2 payment system, which
settles cross-border payments in the euro zone, fell to 411.6
billion euros in April from 419.8 billion euros in March.
Italy's Target 2 position has worsened over the past year
because foreigners have cut their holdings of the country's debt
on the back of the ECB's bond buying programme and Italians have
put a growing share of their savings into foreign assets,
diversifying away from negative-yielding government bonds.
(Reporting by Giulio Piovaccari, writing by Valentina Za)