Tag: Italy
ItalyItaly announces further cuts in expenditure and freezes government hiring
Italy's government has agreed to cut spending by 26bn Euros over the next three years to plug the gap between spending and income. The cuts, approved after seven hours of talks, include a 10% reduction in the number of civil servants and cuts to healthcare and come as Italy struggles to keep the faith of investors.
Relief in EU: German parliament approved Euro rescue fund and fiscal pact
As expected, more than two-thirds of the lawmakers in Germany's parliament moved on Friday to approve the permanent Euro rescue fund, the European Stability Mechanism, and a fiscal pact long championed by Chancellor Angela Merkel.
Political deal in Germany on the ESM; mini summit in Rome to rescue Spain
The German government and opposition reached on Thursday a deal that will allow parliament to approve the European Stability Mechanism, ESM, next week, but Germany's top court may delay the rescue fund's start date, saying it needed time to study the treaty.
Italy hugely exposed to the Euro-debt turmoil and to Spanish contagion
Italy is hugely exposed to the risk of contagion from the debt turmoil in the euro zone, said Prime Minister Mario Monti, suggesting the European Central Bank take action to help cool borrowing costs.
Italian Army on call to deal with growing violence; links with Greek anarchists
Italy's Prime Minister has not ruled out bringing in the army to deal with the increasing levels of violence across the country. PM Mario Monti raised alert levels Sunday at sensitive sites across the country after a rebel group shot and wounded the head of the state-controlled nuclear energy company, Ansaldo Nucleare.
EC and Italy call on Argentina to fulfil its international commitments
European Commission Vice President Antonio Tajani addressed Argentina's plan to expropriate 51% of the 57.43% share-package Spanish ran Oil Company Repsol owns, during a speech at the European Parliament on Wednesday. From Rome Italy also voiced its concern with events regarding YPF and trade restrictions.
Italy fears about Spain; Madrid says: ‘total nonsense to make comparisons with Greece”
Italian Prime Minister Mario Monti expressed concern about Spain's public finances and said it would not take much to reignite the Euro zone debt crisis and revive the risk of it spreading to Italy.
Italy in recession; Greece receives bail out; Spain the new challenge
Italy is in recession, final data confirmed Monday. Italy's economy shrank 0.7% in the fourth quarter of 2011, following a 0.2% decline in GDP in the third quarter.
S&P and Fitch downgrade Spain’s top banks: Santander and BBVA
Banco Santander SA and Banco Bilbao Vizcaya Argentaria SA were among 15 Spain-based financial firms downgraded by Standard & Poor's after the credit-ratings company reduced the nation's grade last month.
Captain Schettino’s lover admits she was in the Concordia bridge when the crash
The Moldovan blonde spotted with the captain of the shipwrecked Costa Concordia, Francesco Schettino, on the night of the disaster, has told Italian investigators she is in love with him.
