Gavin's Feed
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.

Oct 6, 2014

Italy’s politicians join the fray after bitter Juve-Roma clash

ROME (Reuters) – Italian politicians from right and left fuelled controversy following Sunday’s fiery Serie A encounter between Juventus and AS Roma, with lower house deputies tabling questions in parliament and even complaining to the stock market regulator.

Hosts Juventus won the top-of-the-table clash 3-2 but all three goals by the reigning champions, including two penalties for infringements on the edge of the box, were fiercely contested by the visitors.

Oct 6, 2014

Soccer-Italy’s politicians join the fray after bitter Juve-Roma clash

ROME, Oct 6 (Reuters) – Italian politicians from right and left fuelled controversy following Sunday’s fiery Serie A encounter between Juventus and AS Roma, with lower house deputies tabling questions in parliament and even complaining to the stock market regulator.

Hosts Juventus won the top-of-the-table clash 3-2 but all three goals by the reigning champions, including two penalties for infringements on the edge of the box, were fiercely contested by the visitors.

Oct 3, 2014

ECB targets bundled-debt market to boost economy

NAPLES Italy (Reuters) – The European Central Bank laid out plans on Thursday to buy rebundled packets of debt within weeks to shore up the flagging euro zone economy and its president said the bank would do more if needed.

It was, nonetheless, one of the last arrows in the ECB’s quiver before the broad buying of assets known as quantitative easing.

Oct 2, 2014

ECB to begin buying secured debt, bundled loans from mid-month

NAPLES Italy (Reuters) – The European Central Bank will buy bundles of loans and other forms of secured debt from mid-month in an attempt to kick start a languishing euro zone economy, despite misgivings in Germany and elsewhere.

After cutting interest rates last month to what it said was “the lower bound”, the ECB left its main refinancing rate at 0.05 percent on Thursday.

Oct 2, 2014

ECB to flesh out asset-purchase plan it hopes will buoy euro zone

NAPLES Italy (Reuters) – The European Central Bank will present details on Thursday of a new asset-buying plan with which it hopes to revive the flagging euro zone economy and see off the specter of deflation.

The ECB plans to buy asset-backed securities (ABS) – packages of reparcelled loans – with a view to spurring the market for such credit and supporting lending to the small- and mid-sized firms that form the backbone of the euro zone economy.

Sep 26, 2014

Italy data disruptions underscore budget, labour market woes

ROME, Sept 26 (Reuters) – Recent disruptions to economic
data releases by Italy’s official statistics bureau ISTAT are
the latest symptom of tough budget constraints of Matteo Renzi’s
government and the urgent need for reform of the labour market.

ISTAT workers occupied the press room of the institute three
times this week, preventing the normal briefings and causing
delays to the publication of data including gross domestic
product, retail sales and business confidence.