MILAN, April 23 Bond yield spreads between
Italian BTPs and German bunds below November 2011 record highs
should not make Italy's politicians complacent, Intesa Sanpaolo
MI> Chief Executive Enrico Cucchiani said on Tuesday.
The spread between Italian and German bonds fell on Tuesday
to 270 basis points, to the lowest level since mid-February, on
hopes Italy could form a government in the next few days.
"The spread around 300 basis points is indeed lower than what
it was at the peak of the crisis, but this has a narcotic effect
on our politicians," Cucchiani said. "Policymakers believe that
everything is under control now."
Cucchiani was attending the presentation of a book written
by former ECB executive board member Lorenzo Bini Smaghi.
(Reporting by Francesca Landini, editing by Jennifer Clark)