Italy-France Pushing for ‘Single EU Debt’ to Fund Post-Pandemic Growth; Germany’s Stance on Closer Fiscal Integration in Post-Merkel Era Uncertain – Sources
By Silvia Marchetti ROME (MaceNews) – Italy and France are pushing for issuance of a ‘common European public debt’ to fund long-term pro-growth investments with the additional goal of strengthening the single currency and boosting European integration, Italian official sources say. Sources say Europe faces a turning point with the departure of former Chancellor Angela Merkel, […]
Election of Italy’s Next President Will Favor ‘Continuity of Policy’ with Draghi’s Cabinet – Sources
By Silvia Marchetti ROME (MaceNews) – The appointment by parliament of Italy’s next head of state is likely to raise political tensions as parties seek a deal on the successor, with rising speculation that current premier Mario Draghi could be taking over the role, according to ruling coalition sources. Officials argued that coming weeks will […]
Italy Aims to Repeat Success of April’s USD 30-Year Bond Sale with Reopening Likely in Next Few Days – Sources
By Silvia Marchetti ROME (MaceNews) – Italy will be reopening a 30-year maturity USD-denominated bond by issuing additional amounts, potentially as soon as the end of this week, according to ruling government coalition sources. The goal is to replicate the success of the previous placement of a SEC-registered global bond denominated in US dollars with […]
Facing Debt Buildup, Italy Pressing for More Lenient EU Fiscal Rules Post-Covid – Sources
By Silvia Marchetti ROME (MaceNews) – Italy is pressing its European Union partners to define new, more relaxed fiscal rules for the post-Covid era and warns of financial instability ahead unless the EU acts quickly, according to ruling Italian coalition sources. The debate at EU level on the need to reform the Stability and Growth […]
Italy’s Parliament Battle Against the ‘Citizenship Wage’ Will Open Further Cracks in Ruling Majority – Sources
By Silvia Marchetti ROME (MaceNews) – Italy’s parliament attempt to ‘dismantle’ the controversial citizenship wage will open further cracks in the governing coalition and is likely to raise political instability, according to ruling party sources. The citizenship wage – a monthly income granted to the jobless as long as they have an Italian passport – […]
ECB’s Monetary Policy To Stay On Course Despite Inflation Rise – BOI
By Silvia Marchetti ROME (MaceNews) – The European Central Bank’s monetary policy is expected to remain accommodative despite the “significant” but “temporary” rise in inflation across the eurozone, the Bank of Italy said in its Economic Bulletin released on Friday. According to the BOI “the significant rise in inflation is attributable to the increases in […]
Italy to Clear EUR20-25 Billion Budget Plan with Tax Cuts and Pension Fixes – Sources
By Silvia Marchetti ROME (MaceNews) – Italy’s government will approve by end of this week the 2022 budget plan worth up to EUR 25 billion with tax cuts, pro-growth measures and a fix to the current pension system, according to sources. “We’re holding a preliminary meeting today to define the general framework but we still […]
Italy’s G20 Summit on Afghanistan: UN Tasked with Crisis Exit Road Map, IMF, World Bank Aim to Head off ‘Financial Collapse’
By Silvia Marchetti ROME (MaceNews) – The G20 extraordinary summit on Afghanistan held on Tuesday under the Italian presidency mandated the United Nations with the task of defining a global ‘road map’ to tackle the humanitarian crisis and avoid the financial collapse of the nation. At the end of the online event, Italian premier Mario […]
Italy’s Government Tensions Likely to Spike Over Upcoming Thorny Competition Law – Sources
By Silvia Marchetti ROME (MaceNews) – Rome’s government is expected to clear by the end of October a key thorny competition law aimed at supporting investments, a law which is likely to further raise tensions among ruling allies, according to coalition sources. The decree, which was meant to be initially approved ahead of the summer, […]
Rome To Raise GDP Forecast, Lower Deficit, Debt Projections but Disputes Ahead on Funding Priorities, Sources Say
By Silvia Marchetti ROME (MaceNews) – Italy’s government is expected to raise its GDP growth forecast for this year to 6% and lower projected fiscal deficit and debt levels, but key spending measures will have to be scaled back to stabilize Italy’s finances, said ruling coalition sources. “The current scenario has improved compared to our […]