Tag: Italy

• 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.

• Tuesday, September 20th 2011 - 09:09 UTC

  S&P downgrades Italy’s rating by one notch with negative outlook

  

  Standard and Poor's downgraded its unsolicited ratings on Italy by one notch to A/A-1 and kept its outlook on negative, a major surprise that threatens to add to concerns of contagion in the debt-stressed Euro zone.

• Thursday, September 15th 2011 - 07:11 UTC

  Italy approves austerity plan; IMF says now “measures must be implemented”

  

  The Italian parliament gave final approval on Wednesday to a much-altered austerity plan aimed at stemming a debt crisis engulfing the euro zone's third largest economy.

• Thursday, September 8th 2011 - 05:58 UTC

  Italy and Spain pass austerity measures to control budgets and debts

  

  Italy and Spain have passed new austerity measures as they battle to control their debts. Italy's upper house of parliament approved an austerity package which should cut its deficit by some 54 billion Euros over three years.