Roberto's Feed
Jun 23, 2015

Italy takes steps to help banks offload bad loans

ROME, June 23 (Reuters) – Italian Prime Minister Matteo
Renzi announced a series of long-awaited measures on Tuesday
aimed at helping banks in the euro zone’s third-biggest economy
offload bad debts and revive lending to businesses.

Italy is slowly emerging from a three-year recession that
has left its lenders saddled with some 350 billion euros ($390
billion) of loans that have gone sour. That forces them to set
aside capital to cover for potential losses and crimps their
ability to lend to households and companies.

Jun 15, 2015

Venice local vote delivers blow to Italian PM Renzi

ROME (Reuters) – Italian Prime Minister Matteo Renzi’s center-left party licked its wounds on Monday after losing a weekend vote for mayor of Venice to a right-wing candidate and being unseated in four other cities.

Luigi Brugnaro, a local businessman heading a center-right alliance that includes former Prime Minister Silvio Berlusconi’s Forza Italia party, won around 53 percent of the vote in the northern lagoon city. The PD candidate, Felice Casson, took more than 46 percent, the Interior Ministry said.

May 21, 2015

Italy passes law to tackle rampant corruption

ROME (Reuters) – Italy made a fresh attempt at tackling rampant corruption on Thursday when the Chamber of Deputies approved a strongly contested law stiffening penalties for various types of graft and balance sheet fraud.

Corruption has long undermined Italy’s chronically stagnant economy by deterring foreign investors and pushing up costs. A previous “anti-corruption” package in 2012 proved to have little impact.

May 18, 2015

Italy to make one-off payment to millions of pensioners

ROME (Reuters) – Italian Prime Minister Matteo Renzi’s government on Monday passed legislation to make a one-off payment to millions of pensioners, a decision taken just weeks before important local elections.

Italy will pay an extra 2.2 billion euros ($2.5 billion) to 3.7 million retirees on Aug. 1 after a constitutional court ruling last month overturned part of a 2012 reform that slashed pension spending, Renzi said.

May 4, 2015

Italy parliament passes Renzi’s electoral reform

ROME, May 4 (Reuters) – Italy’s parliament on Monday gave
final approval to a new electoral law championed by Prime
Minister Matteo Renzi despite furious objections from the
opposition and some members of the ruling Democratic Party.

The electoral overhaul, which becomes law after more than a
year of discussion in both chambers of parliament, is a central
part of Renzi’s political and economic reform agenda.

Apr 29, 2015

Italy’s Renzi wins first confidence vote on electoral law

ROME (Reuters) – Italian Prime Minister Matteo Renzi won the first of three confidence votes on a fiercely contested new electoral law on Wednesday, brushing aside opposition from rebels on his own side who walked out of parliament to signal their opposition.

The motion passed with 352 votes in favor and 207 against, with around 30 members of his own center-left Democratic Party (PD) refusing to cast a ballot.

Apr 28, 2015

Italy PM defies critics with confidence vote on election law

ROME (Reuters) – The Italian government said on Tuesday it would put its bitterly contested electoral reform to a confidence vote in parliament, forcing rebels in Prime Minister Matteo Renzi’s center-left Democratic Party (PD) to back him or face new elections.

The announcement by Institutional Reform Minister Maria Elena Boschi prompted shouts of anger from opposition politicians, who accuse Renzi of seeking a power grab with the bill, which is one of the government’s chief reform priorities.

Apr 21, 2015

Italian opposition step up fight against Renzi’s electoral reform

ROME (Reuters) – Resistance to Prime Minister Matteo Renzi’s proposed reform of Italy’s electoral law hardened on Tuesday when opposition parties walked out of a parliamentary committee intended to discuss the changes.

But Renzi, who says the reform is necessary to give Italy more stable and efficient government, vowed not to back down. The plan is contested by parts of his own Democratic Party (PD) as well as by opposition parties on both the left and right.

Nov 19, 2014

Italy casts doubt on Russia’s South Stream gas pipeline

ROME/MILAN, Nov 19 (Reuters) – An Italian minister on
Wednesday cast doubt on the future of Russia’s South Stream gas
pipeline project, which was already looking shaky because of the
crisis in Ukraine, saying it was no longer a national priority.

The downgrading of the planned $40 billion pipeline,
designed to detour Ukraine and flood southern and western Europe
with gas, comes as Western nations impose economic sanctions on
Russia to punish it for its stance over Ukraine.

Oct 13, 2014

Minister suggests Italy can cut deficit a bit more if EU asks

ROME (Reuters) – Italy could slightly adjust its budget plans if the European Union asked it to do more to rein in borrowing, a Treasury junior minister said on Monday.

EU sources have told Reuters the European Commission will probably reject Italy’s multi-year Stability Programme as it stands because of Rome’s decision to delay balancing its budget in structural terms until 2017.