May 21, 2018 / 8:41 AM / a month ago

ECB's Nowotny: nervousness about Italian policy under future government, but we must wait

PRAGUE (Reuters) - Potential policy changes under a government being formed in Italy are creating a lot of nervousness but it is necessary to wait to see what is put in practice, ECB governing council member Ewald Nowotny said on Monday.

FILE PHOTO: European Central Bank (ECB) Governing Council member Ewald Nowotny listens during a news conference in Vienna, Austria, March 30, 2017. REUTERS/Heinz-Peter Bader/File Photo

“It is something that creates a lot of nervousness, but of course on the other hand one has to wait. We do not see the effect of measures, we don’t see what really comes out of it,” he said a conference in Prague.

“I hope that the practice will be a much wiser approach than what is here today from the newspapers.”

Italy’s bond yields rose sharply on Monday, pushing the gap over Spanish peers to its widest since 2012, as fears over the big-spending plans of the two anti-establishment parties likely to make up Italy’s next government continue to rattle investors.

Reporting by Jan Lopatka and Jason Hovet

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