Likely Win By Italy’s Right-Wing Coalition Would Upset EU Pandemic Aid Plans, Slow Economy – Ruling Coalition Sources
By Silvia Marchetti ROME (MaceNews) – An expected right-wing coalition victory in upcoming elections could delay Italy’s deployment of key European pandemic aid funds aimed at supporting the recovery, with the result of lower growth, warned outgoing ruling coalition sources. Democrat party sources argued that the electoral program of the far-right alliance aims at changing […]
Liz Truss to Become New UK Prime Minister
–Home Secretary Tops Rival Rishi Sunak, Gaining 57% in a Ballot of Conservative Party Members By Laurie Laird LONDON (MaceNews) – UK Home Secretary Liz Truss is poised to become the country’s next prime minister after topping former Chancellor of the Exchequer Rishi Sunak in a poll of Conservative party members. As leader of the […]
Bank of England Lifts Rates by 50 Basis Points Despite Looming Recession
–Governor Andrew Bailey Vows to Tame Inflation Despite Economic Cost By Laurie Laird LONDON (MaceNews) – The Bank of England lifted its benchmark rate by 50 basis points on Thursday – the biggest rise in 27 years – despite warning of recession later this year. That takes the Bank Rate to 1.75%, the highest since […]
ECB Raises Key Rates by 50 Basis Points, Deviating from Forward Guidance
–Approval of Anti-Fragmentation Tool Allowed Front-Loaded Tightening, Says President Christine Lagarde –Lagarde does not provide forward guidance, says ECB data-dependent By Laurie Laird LONDON (MaceNews) – The European Central Bank raised interest rates by a much-higher than expected 50 basis points following its governing council meeting on Thursday, deviating from the carefully-worded forward guidance issued […]
Super Mario Fails; Italy’s Government On Verge of Collapse As Country Prepares for an Early Vote
By Silvia Marchetti ROME (MaceNews) – Italy’s premier Mario Draghi lost the support of his ruling coalition on Wednesday during a key vote of confidence at the Senate and is expected to resign, paving the way to an early vote and to months of paralysis. Even though Draghi did win the vote of confidence with […]
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 […]