Italy is also undertaking major changes urges Italy to implement announced structural reforms fines still possbile in budget review process EU Commissions’s new VP Katainen playing good cop/bad cop all on his own
An EU source cited by Reuters said Italy’s budget has won approval. There was much hand-wringing about a rejection but after some generally minor changes, it’s approved and Italy’s 130%-to-GDP debt continues to grow.
Closing changes for the major European bourses: UK FTSE +0.7% German DAX +1.9% French CAC +0.5% Italy MIB +2.4% On a two-day basis, the indexes are close to flat on the week or modestly higher.
The Italians are replying to the “Strictly confidential” letter they received from the EU last week, in which they were questioned about missing their budget targets set by the EU. Italy committed to adopting additional measures for 2015 Will bring … Continue reading
Outlook on the long term for Italy and Spain are stable Fitch forecasts Italy GDP to contract by 0.2% in 2014 followed by growth of 0.6% in 2015 Stable is nice but BBB+ isn’t exactly something to stake an election … Continue reading
Meh! I’m sure it’s just lying around.
Italy’s draft budgetary plan (DBP) for 2015 was submitted to Brussels for review and not only are they going to slow their debt to GDP reduction, they are going to miss the stability and growth pact (SGP) rules. Naughty, naughty, … Continue reading
This refers to earlier reports that the EU had issues with latest Italian budget plans and have written a letter to fin min Carlo Padoan expressing their concerns The issue is a “significant deviation from the required adjustment path towards … Continue reading
Reading between the lines shows the EU will probably reject Italy’s budget, according to Reuters: Italian Economy Minister Pier Carlo Padoan has said he expects the European Commission to issue its evaluation of Italy’s 2015 budget on Oct. 29, a … Continue reading
An EU source cited by Reuters says Italy’s budget plan is likely to be seen as a “serious violation” of EU rules and be rejected. That’s exactly the kind of thing that will drive a country out of the eurozone, … Continue reading