Tag Archives: Italy
The European Commission, the European Union‘s executive arm, has warned Spain and Italy that their draft budgets for 2014 may not comply with new debt and deficit rules. It also said French and Dutch plans only just passed muster.
Italy‘s near-bankrupt Alitalia was thrown a lifeline when its board members, including cautious top shareholder Air France-KLM, approved a capital increase. The move is a part of a plan led by the Italian government to bailout the company with 500 … Continue reading
Enrico Letta, Prime Minister of Italy, has won a confidence vote after a last-minute U-turn by former Prime Minister Silvio Berlusconi. Letta had earlier said that if he were defeated in the vote, it might prove a fatal risk for Italy.
A new Italian government has been sworn in today at the presidential Quirinale Palace in Rome. Enrico Letta, deputy leader at the Democratic Party, becomes Prime Minister at the head of a “grand coalition” including Silvio Berlusconi‘s People of Freedom … Continue reading
Pier Luigi Bersani, head of Italy‘s center-left bloc, has failed to form a coalition cabinet after week-long talks with other political leaders. Speaking in Rome, Bersani said some parties’ objections and conditions were unacceptable. Bersani’s Democratic Party narrowly won the … Continue reading
Italian borrowing costs rose sharply this morning, in the first test of its ability to borrow money after the country’s inconclusive election result. Italy sold the new 10-year government bonds at a yield of 4.83%, up from 4.17% at its … Continue reading
The output of the Italian elections has given an unclear majority to the center-left, which should find a difficult agreement with center-right to run the government. Markets have fallen in anticipation of political deadlock in Italy following parliamentary elections there. … Continue reading
Shareholders of the world’s oldest bank have approved a plan needed to get a state bailout amid revelations that it concealed loss-making risky trades. Banca Monte dei Paschi needs 3,900 million Euros in government aid to meet European banking rules. … Continue reading
The Bank of Italy has suspended all Vatican-based debit and credit card payments. It said that the papal state doesn’t comply with international money laundering rules. An official source said that the Italian central bank found in an inspection in … Continue reading
Mario Monti, Prime Minister of Italy, said he isn’t siding for now with any party in upcoming elections. But he also added that he remains available to head a future Italian government committed to his proposed reforms. Italian elections are … Continue reading