Tag: Italy

• Wednesday, November 16th 2011 - 18:04 UTC

  Italian cabinet, totally technocrat, sworn in; parties promise support for reforms

  

  Mario Monti formed a new technocrat government in Italy Wednesday to tackle a major debt crisis threatening the entire Euro zone and said he hoped it would placate financial markets.

• Tuesday, November 15th 2011 - 06:43 UTC

  Monti begins round of contacts with major parties; confirms 2013 elections

  

  Italy's Prime Minister-designate Mario Monti said on Monday his first day of talks for a new government were constructive and he hoped to form an administration that could take the country through to the next scheduled elections in 2013.

• Monday, November 14th 2011 - 20:58 UTC

  Merkel calls for EU political union as long term solution to Euro crisis

  

  As technocrats leaders in Italy and Greece rush to form governments as they sought to limit the damage from the Euro zone debt crisis – and the Euro climbed on relief that a key Italian bond auction drew decent demand from investors – German chancellor Angela Merkel stepped up to defend Europe’s common currency.

• Monday, November 14th 2011 - 06:49 UTC

  Positive market reactions as Monti begins task of forming new government in Italy

  

  Mario Monti is starting work to form a new government to lead Italy out of its acute debt crisis which prompted the resignation of Silvio Berlusconi. The appointment of Mr Monti, an ex-EU commissioner, was announced by Italy's president on Sunday.

• Thursday, November 10th 2011 - 05:59 UTC

  Italy at the point where Greece, Ireland and Portugal cracked; global markets on the edge

  

  Stock markets in Asia opened sharply lower on Thursday after Italy's record-high cost of borrowing renewed fears over the Euro-zone crisis. Japan's Nikkei index fell 2.3%, Australia's ASX was down 2.8% while South Korea's Kospi opened 2.6% lower.

• Wednesday, November 9th 2011 - 06:16 UTC

  Berlusconi stepping down; technocrat or national unity government to follow

  

  Italian Prime Minister Silvio Berlusconi said on Tuesday he would resign after suffering a humiliating setback in parliament that showed a party revolt had stripped him of a majority.

• Wednesday, October 26th 2011 - 02:45 UTC

  Euro zone bailout summit outcome in doubt; Italian government on the brink

  

  Italy's cabinet failed on Tuesday to agree on pension reforms as the country seeks to re-launch its economy and tackle its debt. Meanwhile, financial markets nervously await the outcome of Wednesday's second Euro zone summit.

• Saturday, October 8th 2011 - 08:20 UTC

  Chronicle of a foretold cut: Fitch downgrades Italy and Spain’s credit rating

  

  Fitch cut on Friday Italy's sovereign credit rating by one notch and Spain's by two, citing a worsening of the Euro zone debt crisis and a risk of fiscal slippage in both countries. Fitch cut Italy's rating to A+ from AA- and lowered Spain to AA- from AA+.

• Wednesday, October 5th 2011 - 21:39 UTC

  Operation Fire Wall: IMF will also chip in funds to protect Spain and Italy

  

  The International Monetary Fund could buy Spanish or Italian bonds alongside the Euro zone bailout fund if needed, to help boost investor confidence in those countries, the IMF Europe head Antonio Borges said on Wednesday.

• Wednesday, September 21st 2011 - 05:54 UTC

  “Negative political considerations” downgraded Italy’s rating says Berlusconi

  

  Italian Prime Minister Silvio Berlusconi was quick to reject a long-feared assessment from ratings agency Standard & Poor’s that saw Italy’s credit rating downgraded by one notch on Tuesday.