Gavin's Feed
Jan 24, 2013

ECB’s Draghi under fire over Monte Paschi derivatives scandal

ROME, Jan 24 (Reuters) – European Central Bank President
Mario Draghi is facing criticism over a scandal involving
loss-making derivatives trades made by troubled Italian lender
Monte dei Paschi di Siena while he was Italy’s central bank
governor.

Draghi, who will attend the World Economic Conference in
Davos on Friday, may have to field pointed questions about the
structured trades which could cost Monte Paschi at least $1
billion.

Jan 14, 2013

Italy’s Berlusconi closing gap ahead of vote

ROME (Reuters) – Silvio Berlusconi’s centre-right coalition is making rapid gains ahead of next month’s elections, the latest polls suggest, increasing the possibility that even if the centre-left wins as expected it may not be able to form a stable Italian government.

A poll by the Emg agency for television station La7 showed centre-left’s lead over the centre-right shrinking by 5.5 points from a month earlier to 9.5 points, La7 director Enrico Mentana said on Monday.

Jan 14, 2013

Italy output drop shows economy in mire as poll looms

ROME, Jan 14 (Reuters) – Italian industrial output fell a
bigger-than-expected 1.0 percent in November, suggesting the
economy remains deep in recession as the country braces for a
national election next month.

The latest piece of bleak data will provide further
ammunition to critics of outgoing Prime Minister Mario Monti,
who is bidding for a second term in office at the Feb. 24-25
ballot.

Jan 10, 2013

Italy’s Berlusconi enters lion’s den to close gap ahead of vote

ROME (Reuters) – Seeking a fifth term as Italian prime minister, Silvio Berlusconi took his election campaign into risky and unfamiliar territory on Thursday when he appeared on a television program run by some of his fiercest critics.

Desperate to close a wide gap with the center-left less than seven weeks before the vote, Berlusconi surprised many observers when he said he would attend a talk show hosted by a journalist who has made a career out of criticizing him.

Jan 8, 2013

Italy jobless records put heat on Monti in poll race

ROME (Reuters) – Italy’s jobless rate remained at a record high in November while youth unemployment jumped to a new peak above 37 percent, data showed on Tuesday.

Italy has been in a deep recession since the middle of 2011 and unemployment has risen steadily as businesses clamp down on staffing levels to cope with crumbling domestic demand.

Jan 2, 2013

Six months on, Monti’s labour reform has changed little

ROME (Reuters) – Overhauling Italy’s rigid labour rules was supposed to be Mario Monti’s flagship reform.

It required drawn out, often heated bargaining with unions, employers and political parties. Yet six months after their approval the measures seem to be having little effect on hiring, firing or the labour market in general.

Jan 2, 2013

Analysis: Six months on, Monti’s labor reform has changed little

ROME (Reuters) – Overhauling Italy’s rigid labor rules was supposed to be Mario Monti’s flagship reform.

It required drawn out, often heated bargaining with unions, employers and political parties. Yet six months after their approval the measures seem to be having little effect on hiring, firing or the labor market in general.

Dec 23, 2012

Monti steps boldly into Italy election race: maybe

ROME (Reuters) – Outgoing Italian Prime Minister Mario Monti has many unquestioned qualities but it is starting to seem that bold political decision-making may not be one of them.

After keeping his supporters waiting for weeks to know whether he would lead them in Italy’s upcoming election, Monti held an eagerly awaited news conference on Sunday – and announced that they would have to wait a little longer.

Dec 23, 2012

Italy’s Monti says would consider standing at election

ROME (Reuters) – Italian caretaker Prime Minister Mario Monti said on Sunday he would be ready to run for a second term in next year’s election if he was asked to do so by political forces that adopted his reform agenda.

The former European commissioner, appointed to lead an unelected government to save Italy from financial crisis a year ago, resigned on Friday but has faced growing calls to seek a second term at the election on February 24-25.

Dec 23, 2012

Monti says minded not to run in election, talks reform

ROME (Reuters) – Italian caretaker Prime Minister Mario Monti indicated in a newspaper interview published on Sunday he would probably not stand in a February election but would try to convince the winner to complete the reforms his government has begun.

Monti, who is expected to end weeks of speculation about his political future when he holds a news conference at 1000 GMT, told La Repubblica daily he would use it to present a list of reforms that the next government should urgently enact.