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 […]
Italy’s Local Elections Raise Coalition Tensions, Risk Delaying Reforms – Sources
By Silvia Marchetti ROME (MaceNews) – Italy’s upcoming local elections are bound to fuel tensions between government parties with the risk of delaying key reforms needed to kickstart the recovery, ruling coalition officials warned. “The League, the Democrats and the 5 Stars are bickering on a daily basis in an attempt to boost their popularity […]
Japan PM Suga Not Seeking Re-Election Amid Public Rage Over Covid Surge
By Max Sato (MaceNews) – Japanese Prime Minister Yoshihide Suga is dropping out of the ruling party leadership race this month, effectively stepping down at the end of his short term, amid public furor over his government’s failure to contain the pandemic. Suga told an extraordinary executive meeting at the Liberal Democratic Party Friday that […]
Report: Japan PM Suga Plans To Dissolve Diet in Mid-Sept, Delay Party Poll
By Max Sato (MaceNews) – Faced with voter discontent with government failure to contain the pandemic, Prime Minister Yoshihide Suga plans to call a snap election for the lower house of parliament in mid-September, delaying the already announced process to pick the ruling party chief, the Mainichi Shimbun newspaper reported late Tuesday. Suga is expected […]
US Data Preview Commentary: Jobs Rpt, ISMs, Confidence and The Departure
WASHINGTON (MaceNews) – It’s a week light on major data other than the August jobs report, the two momentum reports ISM’s manufacturing and services indexes – and a Conference Board consumer confidence measure more closely watched since the collapse of the UMich consumer sentiment reading for the month. The optimists think confidence will sink by […]
Draghi’s Government May Stumble Over Thorny Justice Reform; Ruling Coalition Stability at Risk – Sources
By Silvia Marchetti ROME (MaceNews) – Prime Minister Mario Draghi is facing his first major hurdle since rising to power as coalition differences over proposed justice reform risk destabilizing the ruling coalition, according to party sources. The reform is expected to land in parliament on Monday for initial debate and be followed by the government’s […]
Italy’s 5 Stars Movement Likely to Collapse; ‘Trump-Style’ Populism Over – Sources
By Silvia Marchettia ROME (MaceNews) – Italy’s populist Five Star movement is likely heading towards an implosion to the benefit of the entire ruling coalition and the country’s future, according to other allied party sources. “They’re lost, without a leader and a clear way forward. Many members have ditched the group while others eye to […]
Italy To Push For ‘Permanent’ Pro-Growth Eurobonds, Common EU budget – Sources
By Silvia Marchetti ROME (MaceNews) – Italy will push for the creation of a ‘permanent’ European-wide debt tool scheme to support growth in a post-COVID world alongside a common EU budget, according to ruling coalition sources. “The eurobond issuance program adopted in the wake of the pandemic cannot be a one-off measure which will expire […]
Italy Government To Issue ‘Gloomy’ Fiscal Outlook, Downgrade Growth Target, Say EU Aid ‘Not Enough’ – Sources
By Silvia Marchetti ROME (MaceNews) – Rome’s government is expected to clear a “gloomy” fiscal document by April 10 as the pandemic outlook remains uncertain and European aid might not be enough to kickstart the recovery, according to ruling coalition sources. Premier Mario Draghi’s new cabinet will likely downgrade the growth target for this year […]
Draghi Government Eyes Italian Tax Cuts, Simpler, More Progressive Tax Regime – Sources
By Silvia Marchetti ROME (MaceNews) – Italy’s government is considering ambitious tax reform aimed at cutting Italy’s high taxes, simplifying its complex mix of exemptions, deductions, and credits, and helping lower earners, according to ruling coalition sources. Reducing taxation is paramount to kickstart the post-COVID recovery and boost consumption rates, argued sources. Italy’s income taxation […]