Italy Debt Crisis
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Draghi's Future Uncertain In Italy's Unprecedented Political Crisis
Italy faced unprecedented political uncertainty on Friday as a severe government crisis put Mario Draghi's future as prime minister on tenterhooks, raising the spectre of snap elections while unnerving the debt markets.
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Court Approves MV Agusta Debt Restructuring Plans
An Italian court has allowed motorcycle brand MV Agusta 's new business plant to restructure its debt with creditors and suppliers. The court order in Varese, Italy, may well result in MV Agusta closing its investment deal with the Black Ocean Group, an Anglo-Russian private equity firm. Latest reports speculate that Black Ocean could take over the...
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Europe's Bankers Press Pause Not Panic Over Greece
Euro zone stocks remained well ahead of where they were at the start of the year before the European Central Bank (ECB) started printing money, and while government borrowing costs shot up in Europe's indebted southern countries - Italy, Spain and Portugal - they remained well below the heights scaled at the peak of the crisis in 2011/2012.
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European Union finds time to tell restaurants how to serve olive oil
Critics ridiculed European Union bureaucrats on Saturday for taking time off fighting the euro zone's debt crisis to impose strict new rules on how restaurants serve olive oil.
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If Cyprus can sell gold to help bailout, why not others?
Heavily indebted euro zone nations such as Italy and Portugal could come under pressure to put their bullion reserves to work as a result of plans for Cyprus to sell gold to meet its financing needs.
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Aid-giving by rich countries falls for a second year: OECD
Development aid from rich countries to some of the world's poorest fell for a second year in a row in 2012, as big European donor countries hit by years of debt crisis cut their spending.
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Gold rises as Italy election boosts safe-haven appeal
Spot gold inched up on Tuesday, extending gains from the previous session as uncertainty over Italy's election results stoked fears of a resurgent euro zone debt crisis, boosting bullion's appeal as a safe-haven investment.
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EU says euro zone economy to shrink again in 2013
The European Union predicted Friday that the economy of the 17 member countries that use the euro will shrink again in 2013 even though it will see its fortunes improve in the second half of the year.
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Euro zone slips into second recession since 2009
The euro zone fell into a recession in July-September, the second since the global financial crisis in 2009, as French resilience could not make up for a slump across Europe and the three-year debt crisis slowed Germany to a crawl. Economic output in the 17-country euro zone fell 0.1 percent in the third quarter, the EU's statistics office Eurostat...
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Anti-austerity strikes sweep southern Europe
Police and protesters clashed in Spain and Italy on Wednesday as millions of workers went on strike in organised labour's biggest Europe-wide challenge to austerity policies since the euro zone debt crisis erupted three years ago.
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Spain ready for bailout, Germany signals 'wait': sources
Spain is ready to request a euro zone bailout for its public finances as early as next weekend but Germany has signalled that it should hold off, European officials said on Monday.
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Experts warn of 'perfect storm' for global economy
Experts and leaders gathered in Italy may disagree on the cure, but the malady seems clear: the world economy faces a "perfect storm" of risks that include prolonged crisis in a structurally flawed Europe, political paralysis pushing America off a "fiscal cliff," a slowdown in the emerging economies drying up the last of global growth, and the spec...
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5 steps ECB has taken to combat Europe's debt crisis
European Central Bank president Mario Draghi's announcement to lower the borrowing costs of debt laden Spain and Italy has sparked a global rally. Indian stock markets surged Friday tracking strong gains in US and European stocks. The Dow Jones industrial average hit its highest mark since December 2007 while European stocks, already trading at a s...
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Eurozone seen back in recession as manufacturing, services slump
The Purchasing Managers' Index (PMI), published by Markit, showed the economic rot that began in smaller periphery members of the 17-nation bloc is now taking hold even in Germany, the region's largest and strongest economy.
-
Europe on the edge of recession
The eurozone is grappling with sky-high debt levels and record unemployment of 11.2 per cent. Compared with the year before, the eurozone's economy is 0.4 per cent smaller. The region's economy would have slipped into recession had it not been for better-than-expected GDP figures from its two leading economies, Germany and France.
-
Draghi's Future Uncertain In Italy's Unprecedented Political Crisis
Italy faced unprecedented political uncertainty on Friday as a severe government crisis put Mario Draghi's future as prime minister on tenterhooks, raising the spectre of snap elections while unnerving the debt markets.
-
Court Approves MV Agusta Debt Restructuring Plans
An Italian court has allowed motorcycle brand MV Agusta 's new business plant to restructure its debt with creditors and suppliers. The court order in Varese, Italy, may well result in MV Agusta closing its investment deal with the Black Ocean Group, an Anglo-Russian private equity firm. Latest reports speculate that Black Ocean could take over the...
-
Europe's Bankers Press Pause Not Panic Over Greece
Euro zone stocks remained well ahead of where they were at the start of the year before the European Central Bank (ECB) started printing money, and while government borrowing costs shot up in Europe's indebted southern countries - Italy, Spain and Portugal - they remained well below the heights scaled at the peak of the crisis in 2011/2012.
-
European Union finds time to tell restaurants how to serve olive oil
Critics ridiculed European Union bureaucrats on Saturday for taking time off fighting the euro zone's debt crisis to impose strict new rules on how restaurants serve olive oil.
-
If Cyprus can sell gold to help bailout, why not others?
Heavily indebted euro zone nations such as Italy and Portugal could come under pressure to put their bullion reserves to work as a result of plans for Cyprus to sell gold to meet its financing needs.
-
Aid-giving by rich countries falls for a second year: OECD
Development aid from rich countries to some of the world's poorest fell for a second year in a row in 2012, as big European donor countries hit by years of debt crisis cut their spending.
-
Gold rises as Italy election boosts safe-haven appeal
Spot gold inched up on Tuesday, extending gains from the previous session as uncertainty over Italy's election results stoked fears of a resurgent euro zone debt crisis, boosting bullion's appeal as a safe-haven investment.
-
EU says euro zone economy to shrink again in 2013
The European Union predicted Friday that the economy of the 17 member countries that use the euro will shrink again in 2013 even though it will see its fortunes improve in the second half of the year.
-
Euro zone slips into second recession since 2009
The euro zone fell into a recession in July-September, the second since the global financial crisis in 2009, as French resilience could not make up for a slump across Europe and the three-year debt crisis slowed Germany to a crawl. Economic output in the 17-country euro zone fell 0.1 percent in the third quarter, the EU's statistics office Eurostat...
-
Anti-austerity strikes sweep southern Europe
Police and protesters clashed in Spain and Italy on Wednesday as millions of workers went on strike in organised labour's biggest Europe-wide challenge to austerity policies since the euro zone debt crisis erupted three years ago.
-
Spain ready for bailout, Germany signals 'wait': sources
Spain is ready to request a euro zone bailout for its public finances as early as next weekend but Germany has signalled that it should hold off, European officials said on Monday.
-
Experts warn of 'perfect storm' for global economy
Experts and leaders gathered in Italy may disagree on the cure, but the malady seems clear: the world economy faces a "perfect storm" of risks that include prolonged crisis in a structurally flawed Europe, political paralysis pushing America off a "fiscal cliff," a slowdown in the emerging economies drying up the last of global growth, and the spec...
-
5 steps ECB has taken to combat Europe's debt crisis
European Central Bank president Mario Draghi's announcement to lower the borrowing costs of debt laden Spain and Italy has sparked a global rally. Indian stock markets surged Friday tracking strong gains in US and European stocks. The Dow Jones industrial average hit its highest mark since December 2007 while European stocks, already trading at a s...
-
Eurozone seen back in recession as manufacturing, services slump
The Purchasing Managers' Index (PMI), published by Markit, showed the economic rot that began in smaller periphery members of the 17-nation bloc is now taking hold even in Germany, the region's largest and strongest economy.
-
Europe on the edge of recession
The eurozone is grappling with sky-high debt levels and record unemployment of 11.2 per cent. Compared with the year before, the eurozone's economy is 0.4 per cent smaller. The region's economy would have slipped into recession had it not been for better-than-expected GDP figures from its two leading economies, Germany and France.
