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
The quickest, easiest way to make a quick million was to jump on a plane to Italy and upon arrival change some money into lira at the airport. Instant riches! Could those days be set to return? Ambrose Evans-Pritchard in … Continue reading
Istat has lowered its forecast to meet the consensus estimate. Italy has had one quarter of growth since Q3 2011 but economists see growth beginning to pick up next year.
I’ll have some of whatever he’s smoking
Ze Germans are telling us what’s what ahead of the EU summit in Milan tomorrow. A german official says that the summit is to discuss jobs and not growth (heaven forbid that they talk about more than one thing eh?). … Continue reading
It was no surprise to hear a German popping up five minutes after the ECB announced the details of the ABS program yesterday, and German lawmakers weren’t far behind either. They’ve warned that the ECB plan could put the European taxpayer at … Continue reading
49.8 prev composite 49.5 as exp vs 49.9 prev EURUSD still 1.2645
Which is the lesser of two evils? Respecting the EU targets while falling into recession (Italy) or ignoring them and clinging on to growth (France)? It’s a pickle anyway you look at it.
Italian Finance Minister Padoan officially lowered GDP forecasts Reuters had previously reported that the GDP forecast would be cut to -0.2% to -0.3%. Padoan forecasts GDP will rise 0.6% in 2015. The consensus is -0.2% this year and +0.8% so … Continue reading