Bloomberg News

UniCredit CEO Says Italy ‘Has Room’ to Raise Taxes

April 17, 2012

(Corrects headline and first paragraph to clarify Ghizzoni’s comments on hypothetical debt crisis.)

UniCredit SpA (UCG) Chief Executive Officer Federico Ghizzoni said Italy “has room” to raise household taxes in case of an emergency crisis in order to pay off its public debt, Hospodarske Noviny reported, citing an interview with Ghizzoni.

Italy’s public debt represents only 23 percent of the value of household wealth, so the country can afford to pay it off without a rescue package from the European Union, the newspaper said, citing Ghizzoni.

To contact the reporter on this story: Ladka Bauerova in Prague at

To contact the editor responsible for this story: Will Kennedy at

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