Tag: Italy

Tuesday, November 27th 2018 - 08:44 UTC
Italy confirms its high spending budget to “end poverty” and defies EU rules

Italy's government says it will stick to its high-spending budget plans, setting up a potential stand-off with the European Union over its deficit. PM Giuseppe Conte, who held talks with deputies Matteo Salvini and Luigi Di Maio on Monday, said the objectives for 2019 had already been fixed.
Wednesday, November 14th 2018 - 08:50 UTC
Italy ignores EC deadline and keeps to its high spending budget

The Italian government has defied the European Commission by sticking to its big-spending budget plan. Deputy Prime Minister Matteo Salvini said a deficit target of 2.4% and a growth forecast of 1.5% were unchanged.
Saturday, October 27th 2018 - 09:01 UTC
S&P lowers Italy's outlook to negative; criticizes Rome's economic and fiscal policies

Standard & Poor’s on Friday left Italy’s sovereign debt rating unchanged but lowered its outlook to negative from stable, saying that the new government’s policy plans were weighing on the country’s growth and debt prospects.
Wednesday, October 24th 2018 - 08:56 UTC
EC tells Italy to revise its budget but ruling populists vow to go ahead with electoral promises

The European Commission has told Italy to revise its budget, an unprecedented move with regard to an EU member state. EC is worried about the impact of higher spending on already high levels of debt in Italy, the Euro zone's third-biggest economy.
Tuesday, October 23rd 2018 - 08:44 UTC
Populist League advances in north Italy ousting entrenched center left coalition

The right-wing League has won control of the northern Italian province of Trento, ousting the center-left coalitions that have ruled for decades, in the latest breakthrough by the anti-immigrant party.
Saturday, October 20th 2018 - 08:37 UTC
Moody's cuts Italy's credit rating and EC warns over 2019 budget plans

Moody's has cut Italy's credit rating by a notch over concerns about plans for larger deficits and the high public debt load as the country's populist government clashes with Brussels over its budget. The European Commission formally warned Italy late Thursday that its budget plans for 2019 are a serious concern, launching a high-stakes process that could see Rome hit with unprecedented sanctions for breaking commitments to Brussels.
Wednesday, October 17th 2018 - 08:52 UTC
Another headache for the EU: Italy and its populist budget

Italy's government on Tuesday pushed the country closer to a showdown with the European Union after submitting its latest budget for review. The budget proposes increases both Italy's overall government debt and its deficit in the short run pushing the deficit as high as 2.4% of GDP over the coming years. This means Italy will fall foul of a previously mandated maximum deficit level of 0.8% of GDP.
Monday, September 24th 2018 - 08:58 UTC
Panama registry of 'Aquarius 2' migrant rescue ship ended; “taxi service” is over says Italian home secretary

The Aquarius 2 migrant rescue ship, the last of its kind operating in the central Mediterranean trafficking route, was told by the Panama Maritime Authority (PMA) on Sunday that it will have its registration withdrawn. The boat is currently at sea with 58 survivors on board.
Wednesday, August 15th 2018 - 05:50 UTC
Genoa killer bridge dates back to the fifties; alarm call for much of Italian creaky infrastructure

It came seemingly without warning, and has left a shocked and devastated nation demanding answers. Now officials are scrambling to find out how Genoa’s Morandi Bridge collapsed overnight killing at least 30 people as it sent dozens of vehicles tumbling into a heap of concrete and twisted steel.
Thursday, July 26th 2018 - 06:32 UTC
Politicians and industry leaders pay tribute to Fiat-Chrysler's CEO Marchionne

The former chief executive of carmaker Fiat-Chrysler, Sergio Marchionne, has died in hospital in Zurich aged 66. He was replaced four days ago when his health worsened following complications from surgery on his right shoulder.