By David Gold
November 28 – Players competing in the Italian football league are buying more than €100,000 (£86,000/ $134,000) worth of Government bonds as they hope to help alleviate the financial gloom afflicting the debt ridden country.
The Italian Footballers’ Association (FIA) has also urged its members to buy Government bonds today, with banks waiving fees for clients making such purchases.
“The association is also going to buy up over €100,000 worth of bonds from its coffers, which are sustained by the contributions of members,” said Damiano Tommasi, the FIA director.
“We want to be an example.
“In Italy we are seen as people with no interests whatsoever outside football, but we see a parallel between representing your country on the pitch and doing something for the nation down at the bank.
“We know that players are often badly advised on investments and we think buying Italian bonds is not only important for Italy but also a safe investment.”
Entrepreneur Guiliano Melani began the bond buying campaign with an advert taken out in Corriere della Sera which stated “let’s buy the debt!”
Concern over the state of the Italian economy, the third largest in the Eurozone, has soared recently amid the European debt crisis which has already forced out former Prime Minister Silvio Berlusconi, with the Italian Government paying a record 6.5 per cent to borrow money last Friday (November 25).
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