Gavin's Feed
Nov 13, 2014

Italy central bank warns on low inflation threat for public debt

ROME, Nov 13 (Reuters) – A prolonged period of consumer
price stagnation would significantly impair Italy’s hopes of
lowering its huge public debt, the Bank of Italy warned on

Italy’s economy is shrinking and its inflation rate is close
to zero, the central bank noted in its twice-yearly Financial
Stability Report, making it difficult reduce debt from its
current record highs.

Oct 27, 2014

France and Italy offer to trim deficit further to win EU clemency

PARIS/ROME (Reuters) – France and Italy unveiled plans on Monday to trim their deficits more than previously planned in last-minute pitches to get clemency from the European Commission on their 2015 budgets.

The European Union’s executive arm has until Wednesday to decide whether to reject France and Italy’s 2015 draft budgets for failing to make sufficiently large improvements in their public finances.

Oct 18, 2014

Rome mayor recognises gay marriages, riles minister, bishops

ROME, Oct 18 (Reuters) – Rome’s centre-left mayor on
Saturday recognised the validity of 16 gay marriages performed
outside Italy, the first such ceremony in the capital, sparking
an angry reaction from the interior minister and the country’s
Roman Catholic Church.

“Today is a splendid day,” Mayor Ignazio Marino said in
Rome’s city hall where he registered the marriages of 11 male
and six female couples who had wed abroad.

Oct 17, 2014

Renzi’s Italian budget is not so tax-cutting after all

ROME (Reuters) – Two days after Matteo Renzi presented Italy’s 2015 budget it is emerging that the prime minister’s claims of unprecedented tax cuts to revive a stagnant economy are not exactly as he described.

Renzi said on Wednesday he would put 18 billion euros in Italians’ pockets through “the biggest tax cut in the history of the republic,” but official documents suggest a more modest fiscal boost, which has been confirmed by a government source.

Oct 15, 2014

Italy presents tax-slashing budget, defying Brussels

ROME (Reuters) – Italian Prime Minister Matteo Renzi presented an expansionary, tax-cutting 2015 budget on Wednesday, ignoring the concerns of the European Commission which says Rome is not doing enough to rein in its huge public debt.

The budget, approved after an evening cabinet meeting, lowers taxes by 18 billion euros (14.42 billion pounds), the 39-year-old former mayor of Florence told reporters, describing it as “the biggest tax cut in the history of our republic.”

Oct 15, 2014

Italy’s Renzi to present budget as dispute brews with Brussels

ROME (Reuters) – Italy’s ruling coalition is set to approve a tax-cutting budget later on Wednesday, risking a conflict with the European Commission which says Matteo Renzi’s government is not doing enough to rein in public debt.

The 39-year-old Italian prime minister, faced with an economy which has not grown for three years, has set out an expansionary framework for 2015 which increases new borrowing and targets only a marginal reduction in the deficit.

Oct 14, 2014

Italy, EU Commission spar over Rome’s budget plan

ROME/LUXEMBOURG (Reuters) – Italy and the European Commission were on a collision course over Rome’s 2015 budget plan, which Brussels says flouts EU recommendations but Rome says it has no intention of changing ahead of a Wednesday deadline.

Italian Prime Minister Matteo Renzi, faced with a recession-bound economy, has set out an expansionary 2015 budget framework which funds tax cuts with new borrowing and targets only a marginal reduction in the budget deficit.

Oct 10, 2014

Italy’s Renzi wins plaudits for vague labor reform proposals

ROME (Reuters) – Italian Prime Minister Matteo Renzi has enjoyed a chorus of international praise over his proposed labor market reform but the so-called Jobs Act is still only a vague set of principles months away from becoming law.

European policymakers including German Chancellor Angela Merkel and European Commission President Jose Manuel Barroso took turns to applaud Renzi at a jobs summit in Milan this week after the Senate backed his blueprint in a confidence vote.

Oct 10, 2014

Italy August industry output rises slightly after steep July drop

ROME (Reuters) – Italian industrial output was slightly softer than expected in August, rising 0.3 percent after a steep 1.0 percent drop in July but leaving prospects looking weak for the third quarter, data showed on Friday.

The median forecast of a Reuters’ poll of 18 analysts had projected a monthly gain of 0.5 percent in August.

Oct 8, 2014

Budget divisions overshadow EU jobs talks

MILAN (Reuters) – French President Francois Hollande defended his push for an easing of EU budget restrictions on Wednesday, potentially deepening divisions with Germany, which is pressing Paris to move faster on reforms, but winning support from Italy.

Speaking before a meeting of EU leaders on jobs in Milan, Hollande said the euro zone’s faltering economy would continue to slow unless tight budget rules were eased.