A statistic for the North-South debate over Eurobonds: if you look at the cyclically adjusted primary balance 2008-2019 (revenue - spending excluding interest payments), the Netherlands has run a deficit on average while Italy, Greece and Portugal have run a surplus (IMF) 
So the Netherlands is able to be in a more favourable fiscal position because it pays less interests on what it borrowed. But in the last 10 years it spent more on roads, defence, etc. than what it took in taxes. Italy, Portugal and Greece spent less but paid more interests.
Because the whole discussion was about why Southern Europe didn't build a buffer to face this crisis: they did a lot more austerity than the Netherlands, but had to pay a lot more in interest payments.
The source is here: imf.org/external/datam…
And you also have to factor in an estimated 1 billion USD/year in corporate tax revenues that Italy loses because of profit-shifting via Dutch subsidiaries (data by @gabriel_zucman)
missingprofits.world
missingprofits.world
Here are government net debt interest payments as a share of GDP. In 2019, Italy paid 3.4% of its GDP in debt interest payments; total government spending was about 49% of GDP.
What is a bit crazy is that the huge Italian debt pit was essentially dug in the 1980s. Italy has never managed to get out of it in spite of doing austerity pretty much since the early 1990s. Since then it has almost always ran a primary surplus.
forbes.com/sites/annalisa…
forbes.com/sites/annalisa…
See also here: ft.com/content/760053…
