ROME (Reuters) – The Bank of Italy scrambled on Friday to deflect charges that it failed to prevent risky derivatives trades by the country’s third-largest lender, which took place when ECB chief Mario Draghi headed Italy’s central bank.
The escalating scandal over Monte dei Paschi di Siena, the world’s oldest bank, has rocketed to the centre of the campaign for next month’s Italian election with concerns that the ailing bank may need to be nationalized.
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
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
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.
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
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.
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.
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.
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.
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.
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.