Tag: Italy

• 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.

• Monday, September 5th 2011 - 05:53 UTC

  Doubts Italy’s divided government can pass measures to cut budget and debt

  

  ECB President Jean-Claude Trichet kept up warnings over Italy's strained public finances telling the struggling centre-right government it must act quickly to reassure nervous markets.

• Tuesday, August 2nd 2011 - 21:29 UTC

  Emergency bells ringing in Europe: Italy and Spain in the Euro danger zone

  

  Financial market pressure on Italy intensified on Tuesday, sucking Europe's second biggest debtor nation deeper into the Euro area danger zone and prompting emergency consultations in Rome and among European capitals.

• Friday, July 15th 2011 - 05:54 UTC

  Italian parliament does its homework and approves sweeping austerity budget

  

  Italy's upper house of parliament has agreed to a sweeping austerity budget in a move intended to allay concerns over a possible bailout. Meanwhile, Greece must come to terms with another ratings downgrade.

• Tuesday, July 12th 2011 - 07:01 UTC

  EU digs in to defend Euro: lower costs of aid packages and beefs up stability fund

  

  European Union finance ministers pledged to beef up a rescue package for troubled economies such as Greece as they went to battle to contain debt crisis contagion threatening to engulf Silvio Berlusconi’s Italy and Socialist Spain.

• Tuesday, July 12th 2011 - 01:47 UTC

  Euro confidence crisis, Italian chapter, sends world markets tumbling

  

  Global stocks and the Euro sank as fears that Italy could become the latest country caught up in the Euro-zone debt crisis caused investors to sell risky assets and snap up safe-haven US Treasury debt, pushing the 10-year note's yield below 3%.

• Saturday, June 11th 2011 - 10:52 UTC

  Italy recalls ambassador on Brazil’s refusal to extradite four-murder terrorist

  

  Italy recalled its ambassador to Brazil on Friday after Brasilia refused to extradite a former left-wing guerrilla convicted of four murders. The decision by Brazil's Supreme Court earlier this week to uphold a government refusal to extradite Italian Cesare Battisti, allowing him to walk free, has brought relations between the two countries to a low point.

• Tuesday, May 24th 2011 - 00:59 UTC

  One in four Italians faces poverty because of the economy’s chronic low growth

  

  One Italian in four currently faces poverty as a result of the global financial crisis and their country's chronically low growth, the national statistics institute Isat said on Monday in a report.