Italy’s Political Crisis: Draghi Departure Would Trigger 3-Month Paralysis, Early Vote Not Before October – Sources
-€300 bln bonds to mature this year -Key reforms at stake -New ‘ruling pact’ with 5 Stars Doubtful By Silvia Marchetti ROME (MaceNews) – If Italian premier Mario Draghi fails to secure a new ‘ruling pact’ with the belligerent 5 Stars Movement on Wednesday, his departure would trigger early elections, months of political stalemate, and […]
<strong>Italy Rocked by Political Crisis, Unclear Whether Draghi to Stay – Sources</strong>
–Early vote ‘measure of last resort’ –Draghi could seek new vote of confidence –President Mattarella to appeal to ‘sense of duty’ of all parties By Silvia Marchetti ROME (MaceNews) – Italy has been shaken by yet another political crisis after the co-ruling 5 Stars Movement refused to take part in a key vote on confidence […]
Italy’s Draghi Faces Risky Senate Vote as 5 Stars Threaten to Ditch Ruling Coalition
By Silvia Marchetti ROME (MaceNews) – Italy’s premier Mario Draghi faces a risky Senate vote this week as his ally, the 5 Stars Movement, threatens to withdraw government support over key economic measures, according to ruling coalition sources. As tensions between Draghi and the former premier, 5 Stars party leader Giuseppe Conte, are mounting, 5 […]
BOI’s Visco: Second Rate Hike in September ‘Appropriate’ if Long-Term Inflation Forecasts Do Not Improve
ROME (MaceNews) – Bank of Italy Governor Ignazio Visco said on Friday that a second rate hike in September by the European Central Bank could be “appropriate” if long-term inflation forecasts do not improve. Talking at Italy’s annual banking lobby ABI conference, Visco argued, however, that monetary policy normalization, particularly including any additional rate hikes […]
Italy’s Top Lender Expands Issuance of US-Denominated Bonds; ‘Appealing’ 4% Fixed Rate
By Silvia Marchetti ROME (MNI) – Italy’s top lender Banca Intesa San Paolo is expanding issuance of U.S. dollar-denominated bonds with an appealing 4% fixed rate to lure domestic investors into contributing to the U.S. government funding needs, and in giving them a ‘safe investment’ during stock exchange turmoil. The wide array of available bonds […]
Italy’s 3Q Issuance To Focus on Short, Inflation-Indexed Bonds in Face of Rising Inflation – Sources
By Silvia Marchetti ROME (MaceNews) – Italy’s third quarter issuance plan will focus mostly on short-term and inflation-indexed debt securities to shield domestic investors from inflation, according to ruling coalition sources. “The Ukraine war fallout is heavily striking families’ purchasing power, who remain our key investor target. The domestic market is extremely vulnerable at the […]
Germany’s Business Conditions Worsened Slightly in June, Ifo Reports
ZURICH (MaceNews) – German businesses were a bit more pessimistic in June than a month ago, as their view of both current conditions and their expectations for future developments were judged more negatively. The Ifo business climate index fell to 92.3 in June from 93.0 the previous month. Economists had expected a slight drop to […]
Draghi: Italy Supports Ukraine, ‘No Ambiguity’ From EU Countries but Common Stance Needed 
By Silvia Marchetti ROME (MaceNews) – Italy’s government stands united in supporting Ukraine against Moscow and all European Union member states must show unity on this front as ‘unclear messages’ are not acceptable, Italian premier Mario Draghi told the Senate on Tuesday. Speaking ahead of the key June 23-24 European Council meeting on the Ukraine […]
Italy Backs ‘Gradual, Flexible’ Monetary Policy Normalization, Urges ECB to Avoid ‘Hawkish’ Message – Italian Government Sources
By Silvia Marchetti ROME (MaceNews) – Italy is warning against a sudden unwinding of Eurozone monetary policy accommodation and calling for a ‘gradual’ but ‘flexible’ normalization process, according to ruling coalition sources. “It is a very delicate moment for the European Central Bank, and it is paramount to avoid having to exit and then re-enter […]
Rome Pushes for New EU Recovery Fund to Tackle Energy Prices Spike, Avoid Spreads Further Blowing Out – Sources
–Italian officials express relief over ECB moves to limit spread widening By Silvia Marchetti ROME (MaceNews) – Italy’s ruling coalition is pushing hard for the European Union to launch a new recovery fund aimed at jointly funding measures to cushion the impact of energy and inflation spikes on families and firms, in an attempt to […]