November 26, 2018 / 10:06 AM / 17 days ago

Italy's spending increase offset by higher borrowing costs: ECB's Praet

FRANKFURT, Nov 26 (Reuters) - Italy’s attempt to spend more in breach of European rules could be more than offset by tighter financial conditions, including rising borrowing costs, European Central Bank chief economist Peter Praet said on Monday.

Praet, an ECB board member, called such an increase in borrowing costs unsustainable and said it could not last long without a broader impact on the economy, including on growth and investments. (Reporting by Balazs Koranyi; Editing by Toby Chopra)

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