Tighter spread shows Italy on right path says Letta

(ANSA) – Rome, October 17 – The narrowing spread with Germany’s top-rated bonds and Italian paper shows Italy is on the right fiscal path, Premier Enrico Letta said Thursday.

He said markets had welcomed his 2014 budget, launched Tuesday night. The spread closed trading at 233 basis points after hitting a two-year low of 229 earlier this week.