Bonds News

Italy govt won't sell "a gram" of gold reserves-League lawmaker

ROME, Feb 13 (Reuters) - The Italian government has no intention to sell the Bank of Italy’s gold reserves to plug budget holes, a prominent lawmaker of the ruling League party said on Wednesday.

“We do not want to sell a gram (of gold),” Claudio Borghi, chairman of the Budget Commission in the Lower house and League’s economics spokesman said in a interview with state-owned television RAI.

The League has drafted a law proposal which would eventually allow the government to sell the country’s gold reserves through a change to the constitution.

Borghi has already tabled a bill intended to establish that the gold is the property of the state rather than of the Bank of Italy, a point which is disputed in Italy.

Reporting by Giselda Vagnoni; Editing by Valentina Za