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 […]
Eurozone Consumer Prices Rise 4.9% in November from A Year Ago on Energy Costs
ZURICH (MaceNews) – Consumer prices in the Eurozone are expected to rise 4.9 percent in November from a year ago, exceeding economists’ expectations according to preliminary HICP data released today by Eurostat. Economists had been expecting a price increase of 4.4 percent compared to year ago, according to the median of an Econoday survey of […]
Eurozone Economic Confidence Fell in November, Matching Expectations
ZURICH (MaceNews) – Economic sentiment in the countries sharing the euro fell in November, falling 1.1 points to 117.5, according to the latest report from the European Commission. The result was exactly in-line with the median of an Econoday survey of economists’ forecasts. Among sectors for the eurozone in November the results were as follows: […]
ECB’S Schnabel: Forecasts Show November is High Point of Inflation
ZURICH (MaceNews) – Currently surging inflation is seen peaking in November and then moving lower to once again fall below two percent, ECB governing council member Isabel Schnabel said in an interview Monday with Germany’s ZDF broadcaster. Inflation in the coming year will recede in direction of the ECB’s goal of 2 percent and many […]
Covid and Supply Bottlenecks Dampen German Business Sentiment in November
ZURICH (MaceNews) – Business sentiment in Germany fell in November as concerns over a fourth Covid wave and continued supply chain bottlenecks dampened both current conditions and expectations according to the latest report from the Munich-based Ifo Institute. The Business Climate Index median fell to 96.5 in November, slightly below the median of 96.7 in […]
Eurozone October Final HICP Rose 4.1% vs Year Ago, Matching Preliminary Result
ZURICH (MaceNews) – Inflation in the countries sharing the euro rose 4.1% in October, according to final figures released today by Eurostat, and confirmed the preliminary result. Energy prices were the main driver of the gain as they were 23.7% higher than year ago levels, and contributed 2.21 percentage points to the overall increase, according […]
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 […]
Germany’s Current Economic Situation Negatively Impacted by Supply Bottlenecks and Inflation Concerns
ZURICH (MaceNews) – While the economic outlook for Germany improved for six months hence, current conditions are being negatively impacted by supply bottlenecks and concerns over inflation, according to the latest survey data from the ZEW Institute in Mannheim. Current conditions fell more than expected in November, with the index shedding 9.1 points to 12.5, […]
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 – […]