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
If you can’t take a politician at his word, who can you trust??? …there’s not a politician in the world that wouldn’t ramp up deficits to hang onto his job a bit longer. For background, Italy lowered growth projections last … Continue reading
Italian PM Renzi interviewed on RAI television: Italian GDP may contract as much as 0.3% in 2014 Reiterates no new taxes Italy setting aside eu1.5b for support to fired workers His government plans to reduce number of labor laws, Italy … Continue reading
Rumors that Draghi and Visco will leave the ECB to head Italy Italian Premier Matteo Renzi spoke to La Repubblica on the weekend after rumors that Bank of Italy leader Ignazio Visco will replace him and that ECB President Mario … Continue reading
The busy bees at ISTAT have got the hump with something so the business confidence data is going to be delayed by about an hour report Livesquawk.
Italy will lower its 2014 GDP forecast to -0.2% or -0.3% from the +0.8% current forecast, according to Reuters who cites an unnamed source. At the same time, the Treasury will hike its debt-to-GDP forecast to 2.8% from 2.6% and … Continue reading
Says risks for Italy are still tilted to the downside Sees possible gradual increase in output in next quarters Sees 1.1% growth in 2015 (slightly below official forecasts of 1.3%) Stresses urgency of labour market reforms Sees Italian public debt … Continue reading