Italy Recovery From Coronavirus Pandemic Risk Reports
Italy Economy Minister Roberto Gualtieri expects the recovery to continue through June and July when figures are at hand. Italys coronavirus lockdown was lifted for many Italian businesses in May.
7th July 2020 European Commission EC Forecasting Italy Economy In Recssion Until End Of 2020 At Earliest
The EC is forecasting Italy economy to contract 11.2 percent in 2020. Italy deaths from coronavirus each day now in the single figures and new infections are in the low triple digit area.
11th May 2020 Italy Seeks To Recover Economically and Socially
Bars and restaurants will fully reopen for dine in service from 1st June.
Hairdressers and beauty salons are due to reopen from 1st June.
Some shops are already open. More shops will reopen on 18th May
Museums and libraries will open from 18th May.
Sports teams will also be able to hold group training from 18th May.
Funerals are now allowed with a maximum of 15 people attending.
Schools will not reopen until September 2020.
The Catholic Church will be allowed to hold masses from 18th May.
- Italy deaths from coronavirus increased yesterday by 165 in 24 hour period to a total of 30560 There were 802 new infections bringing total to 219070.
29th April 2020 Fitch Italy Emergency Credit Rating Adjustment Downwards Signals Growing Worries For Italians and Eurozone
Yesterday Italy deaths from coronavirus rose by 382 yo 27359. Infections rise by 2091 to 201505. As Italy starts to bring the human cost of the virus pandemic under control its economic cost is rising.
The international credit rating agency Fitch cuts Italy’s credit rating to a level that makes its ability to raise money to pay for public services more difficult and more expensive for Italy.BusinessRiskTV
Italy credit rating by Fitch is BBB minus which almost puts Italian government bonds into junk bond category. Fitch thinks Italian economy is more dangerous to invest in which means Italian government needs to pay investors more money to borrow money from them to pay for public services in Italy.
Italy is the Eurozone’s third largest or strongest economy so this does not bode well for the Eurozone as a whole. Worse still is the changing attitude to European Union project. Political risks in Italy are rising. Recent polls suggest Italians are disengaging from the European Union. They feel abandoned by other European Union countries due to their lack of support when the pandemic hit hardest. There is a growing risk that the virus pandemic in Italy could turn into a political crisis for Italy and the European Union.
Italy has struggled since the last financial crisis in 2008 economically. It is now heading into a nosedive recession it will be difficult to pull out of. Italians will seek evidence from the rest of Europe especially Germany that Italy is still loved by EU project. The EUs purse in form of European Central Bank ECB net asset purchases needs to remain open to Italians for a considerable period of time.
The Italian economy will contract by 8 percent in 2020 and public debt will climb to 156 percent of gross domestic product GDP.Credit rating agency Fitch
More worrying is the weakness of the Italian banking system. Already in a high risk of systemic failure prior to the pandemic Italian banks are only now starting to really creak. Without help from the European Union to the Italian government and economy Italian banks will break. The ECB has launched a 750 billion euro Pandemic Emergency Purchase Programme PEPP which has thrown a lifeline to Italy and the European Union project of ever closer union. Now its a case of stopping the union falling apart.
Just as Italy was starting to pull itself out of the quagmire from the last financial crisis the virus pandemic has kicked it back in. It is difficult to envisage Italy pulling itself back out within the next decade. Will Italians want to wait that long?
Most Italian businesses are still under lockdown. There will be some easing in May but as Germany has probably just found out lifting lockdown risks further spikes in virus transmission.
16th April 2020 Italy Deaths From Coronavirus Rise By 525 To 22170
The number of infections rise by 3786 to 168941.
14th April 2020 Italy Deaths From Coronavirus By 602 To 21067
Number of infections rise by 2972 to 162488.
Whilst the number of new infections signal a slow recovery from the pandemic high daily deaths are likely to continue for weeks.
Italian government has started to release some of the lockdown resurrections in Italy. Hopefully this is not too early. The rest of world certainly the rest of Europe praying that where Italy is now going is a safe place the rest can follow.
11th April 2020Italy Deaths From Coronavirus Rise By 619 To 19468
The number of people infected by virus rises by 4694 to 152271.
10th April 2020 Italy Deaths From Coronavirus Rise By 570 To 18849
The number of people infected in Italy rises by 3951 to 147577.
9th April 2020 Italy Deaths From Coronavirus Rise By 610 to 18279
The number of people who test positive rises by 4204 to 143626.
Although a week ago the position was much worse it is hardly any better. Italy does seem to have passed the peak epidemic phase but the road to recovery is going to be a very long one. Many more people will be infected and unfortunately thousands more people will die before the end of epidemic in Italy.
8th April 2020 Italy Deaths From Coronavirus Rise By 542 To 17669
The number of people who tested positive for the coronavirus rise by 3836 to 139422. The rate of increase fluctuates but the trend is downwards. Italy appears to have progressed beyond peak infection period.
- Ferrari is piloting a Back On Track project to conduct voluntary screening of employees and their families for coronavirus Covid19 when the factories in Italy reopen on 14th April. Ferrari is working with a team of virologists and safety management experts to create a safe working environment even when Italy has not stopped infections and spread of virus. Ferrari will also use an App to track the contacts of those involved in the initiative to enhance health monitoring. The Ferrari coronavirus App will help monitor and contain the emergence of any new infections amongst employees.
7th April 2020 Italy Deaths From Coronavirus Rise By 604 To 17127
New virus cases still increasing but more slowly at 3039 in 24 hours.
6th April 2020 Italy Deaths From Coronavirus Rise By 636 To 16523
New people infected in Italy rises by 3599 to 132547.
5th April 2020 Italy Deaths From Coronavirus Rise By 525 To 15887
4th April 2020 Italy Deaths From Coronavirus Rise By 681 To 15362
Here have been 4805 new cases of infection of the coronavirus in Italy in last 24 hours.
3rd April 2020 Italy Deaths From Coronavirus Rise By 766 To 14681
There have been 4585 new cases in the last day.
2nd April 2020 Italy Deaths From Coronavirus Rise By 760 To Nearly 14000
1st April 2020 Italy Deaths Due To Coronavirus Rises 727 To 13155
31st March 2020 Italy Deaths From Coronavirus Has Risen In Last 24 Hours By 837 To A Total Of 12428
There are some indications that peak of the pandemic in Italy is approaching. However the number of deaths each day will remain high for weeks to come albeit potentially reducing.
29th March 2020 Italy Deaths From Coronavirus COVID19 Rise By 756 To 10779
28th March 2020 The number of deaths in Italy from the coronavirus COVID19 in last day increased by 889
10023 people have now died in Italy from the coronavirus.
Some people who contracted the virus in Italy are now being transferred to Germany to be treated due to a lack of medical staff.
It is anticpated that within the next few days Italy will travel through the peak of the pandemic in Italy. This does not mean the horrific deaths will stop but hopefully they will not continue to increase.
27th March 2020 A highly depressing high watermark has been reached in Italy with 919 people dying in the last day its highest number daily death figure so far
New infection rates do seem to be falling but the country is basically closed so infection rate is obviously going to fall. It takes a couple of weeks for the self isolation to reflect in dramatic infection and death drop stats. Infection rates in Italy have only been falling for a few days.
Concern is also rising that the south of Italy is being more heavily affected now whereas before the worst was in the north of Italy. National stats could not fall as much if the south of Italy is a little more complacent about the infectiousness and deadliness of COVID19.
When the hospitals can cope again Italy like the rest of the world will have to and want to open again. During this time the infections will again spike up.
For the time being very high deaths will continue and having some relief from that will be very welcome. Tomorrow is another day.
26th March 2020 The number of people who died in Italy in last day due to coronavirus was 712
8215 people have died in Italy from the contraction of the coronavirus COVID19 since the start of the pandemic. Over 80000 people have been infected.
25th March 2020 Italy Has Increased Punishments For Breaking Coronavirus Risk Control Measures
Italian fines of thousands of euros and five year prison terms for anyone who tests positive and breaks their quarantine will be issued.
- 683 people have died in Italy in the last 24 hours. A total of 7503 have died in Italy due to the virus.
- 5210 new infections have been identified in Italy over the last 24 hours.
- Most people are dying in hospital isolation without visits from family or friends as the risk of coronvirus contagion is too high.
- Family and friends are not even able to see the body of their loved ones for one last time.
- Italy has banned funerals because of the coronavirus crisis
Around 70000 people have tested positive for the virus in Italy. Italy has suffered the most number of deaths from the virus more than any other country in the world.
24th March 2020 The number of deaths in Italy due to coronavirus COVID19 since yesterday was 743
There were 5249 new infections since yesterday.
There was some hope that the figures in terms of deaths was going in the right direction however the number of deaths per day has jumped up again. The day before there were 602 deaths in 24 hours but th e last 24 hours saw 743 deaths.
23rd March 2020 The number of people who died in Italy over last 24 hours due to coronavirus was 602
A total of 6078 have died in Italy due to the virus. Over 70000 people have been infected with the virus.
Italian government set to bring in even tighter restrictions on Italian businesses by forcing all non essential businesses to close.
22nd March 2020 The number of deaths in Italy increased by 651 in last day
5476 have now died in Italy from cornavirus pandemic.
21st March 2020 In One Day 793 People Died in Italy From Coronavirus
Italy has not reached peak infection rate yet. It is likely rather than possible that Italy will soon experience deaths in excess of a 1000 people per day.
A total of 4825 have now died from the coronavirus. 53578 people in Italy have contracted the virus which in itself is a jump of over 6000 extra people infected.
Italian medical personnel are continuing to make almost impossible but always painful decisions on who is more likely to survive if they get precious access to ventilators. Many in Italy are dying as the excellent Italian healthcare system is unable to cope with the flood of needy patients.
Many other countries have not experienced Italys tragic position yet only because Italy is more advanced in its epidemic. The only countries who have managed to restrict deaths are countries who have aggressively tested and quarantined their public from the start. Those that have not done this can only hope a vaccine is developed or another drug can be reused to control the spread or that they can produce enough ventilators and medical experts to work the equipment to avoid similar or worse daily deaths than Italy. A vaccine is a long way off so the opportunities to restrict deaths are very limited.
20th March 2020 The Number Of Deaths In Last 24 Hours In Italy Was 627
19th March 2020 The Number of Deaths In Last 24 hours In Italy Was 427
There have now been more deaths in Italy from the coronavirus than died in China. 3405 have now died in Italy due to the coronavirus COVID19.
A small village in northern Italy has eradicated the coronvirus by aggressively testing the whole village and quarantining aggressively. It is thought that the key was finding people who were transmitting the virus with no symptoms themselves and quarantining them before they infected others.
18th March 2020 475 People Died From The Coronavirus In The Last 24 Hours In Italy
This is the biggest 24 hour death rate anywhere in the world. Even China the source of the virus did not suffer such high 24 hour mortality.
16th March 2020 The Death Toll In Italy Increased 349 In Last 24 Hours
Italian government warns that the peak of the coronavirus pandemic has not peaked in Italy.
15th March 2020 Deaths In Italy Increased By 368 In 24 Hours
1809 people have died in Italy from coronavirus COVID19.
13th March 2020 More Than 200 Died In Last 24 Hours In Italy Due To Coronavirus
Although the whole of Italy is currently locked down it has not stopped the number of fatal infections. Indeed Italy has not yet reached peak infection period so the number of deaths per day is likely to rise significantly above 200 per day.
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11th March 2020 Italy To Close All Shops Except Food Stores and Pharmacies
Italian Prime Minister Mr Conte announced that additional movement restrictions will be in force from tomorrow until 25 March. Italy has already closed schools gyms museums nightclubs and stopped sporting events.
9th March 2020 Italy Bans Public Gatherings To Whole Country From Northern Region
The Italian government has introduced strict movement controls not seen since Second World War to try to control spread of coronavirus. Italys healthcare system is close to collapse due to the pressurers of dealing with those people infected and those needing tested. .
Italys Prime Minister says the best thing for the citizens of Italy to do was to stay at home. All schools and universities will be closed until early April. Sports events will take place behind closed doors.
463 people have died from the coronavirus epidemic.
6th March 2019 Italy Banking Lobby Asking European Authorities To Ease Rules On Problem Loans For At Least Six Months As Coronavirus Outbreak Hits The Italian Economy Badly
The coronavirus threatens to make a bad Italian banking risk worse. The Italian banking sector is already just hanging on by its finger tips. The slowdown in business activity in Italy could bring home even more bad loans that will make Italian banks unsustainable. It could be the first domino of the collapse of the banking system across Europe and bring the European Union down with it.
Cerved has warned default risks in Italy could double among smaller businesses if the crisis lasts through the year. It is unlikely that the virus will be brought under control until 2021 unless the hot summer kills it off which is not known.Italian credit rating group Cerved
Lobby groups are asking for a Europe wide guarantee scheme that would allow lenders to set aside less capital when providing relief measures to firms whose business is suffering due to the coronavirus.
6th March 2020 Italy Financial Crisis Made Worse By Coronavirus To Extent It Could Cause Collapse Of Italian Banks
If you are a restaurant owner in Rome with high overheads and no customers what happens to your business? If enough Italian and other business owners cannot cover their overheads what happens? If the Italian banks do not have enough money to bail out business owners in Italy what happens to the banks in Italy.
Italy and European Union EU is also facing Brexit and trade war with USA. Italian banks will enter their most vulnerable point in the next few months. The coronavirus will not be under in control in Italy until 2021 at earliest. Italy may never fully recover from the coronavirus economically or biologically.
4th March 2020 Italian Government Shuts Down All Schools and Universities Until Middle Of March
Due to the spread of the coronavirus COVID19 the Italian government has closed all schools and universities in Italy until the middle of March 2020.
25th February 2020 Italy Government Admits Coronavirus Will Have Very Strong Negative Impact On Italian Economy
Italys Prime Minister Giuseppe Conte is reported as saying that the coronavirus outbreak will have very strong negative impact on Italian economy that can not be measured fully at this time.
25th February 2020 Travellers Returning To UK From Northern Italy Should Self Isolate As Part Of Measures To Contain Spread Of Coronavirus
UK Health Secretary on behalf of UK government has advised people returning to UK from quarantined areas in Italy to self isolate with 14 days whether they have coronavirus symptoms or not. However the Italian outbreak has already spread to Sicily so what about those returning from other parts of Italy? No official guidance yet except that if you develop any symptoms you should self isolate and call 111 for medical advice
In addition an Italian tourist in a hotel in Tenerife is suspected of spreading the coronavirus.
13th February 2020 Italy Economic Growth Even Worse Than Thought
The European Commission EC is forecasting Italy will only grow 0.3 percent in 2020 which is even slower than the 0.6 percent Italy thinks it will do in 2020.
The Italian economy the third biggest in the European Union EU is continuing to lose steam and this makes the Italian governments budget less realistic.
Italy had forecast a 2020 deficit of 2.2 percent but this is based on economic growth of 0.6 percent. Italy will update its budget and growth forecasts in April but if growth is slower it will need to look at cuts to government spending.
Making things worse for Italy it is expected that the coronavirus outbreak in China is expected to reduce Italian economic growth at least a little. A more significant economic impact has not been ruled out by the Italian government.
6th December 2019 Italys Economy To Remain Weak
Italys economy will remain weak according to national statistics bureau ISTAT. Italys economy has barely managed to grow in 2019 and 2020 does not look much better.
15th November 2019 Italy Plans New Tax On Digital Companies Like Facebook Amazon and Google
The new digital company tax will be introduced in 2020. They will be asked to pay to Italian government 3 percent tax on transactions in Italy.
23rd September 2019 Italian Public Debt Rises To Near Record Highest For Whole Eurozone Ever Is The Solution To Take Budgeting Out Of The Hands Of Italians?
Italian debt last year rose to 134.8 percent of Gross Domestic Product GDP according to the Italian central bank Bank of Italy. This increased from 134.1 percent in 2017. This is the worst proportionately after Greece.
This factor amongst others is making it more expensive for Italy to borrow money as the risks of Italian banking collapse rises.
As the Eurozone economy heads towards recession eurozone banks do not want to lend to each other. Add to this the continuing global economic slowdown and Brexit Italy is in more danger than it thinks it is.
Howerver the President of the European Central Bank ECB knows only too well. He has started pumping cheap money into the Eurozone but feels this is not enough and is calling for ever closer union with a single Eurozone budget.
30th August 2019 Italy Unemployment Rises In July
Italian unemployment rate rose to 9.9 percent in July according to national statistics agency ISTAT.
Youth unemployment in Italy rose to 28.9 percent in July.
20th August 2019 Italian Premier Giuseppe Conte Resigns
Conte says the actions of deputy prime minister Matteo Salvini forced his resignation and brings to an end the populist government of Italy.
European stock markets fell away on the political risk of Italian economic collapse. The deteriorating political risk in Italy can be added to trade war between USA and China. With weak Italian banks and economy the European Union could now have much bigger fish to fry than Brexit risk.
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1st March 2019 Italian Economy and Financial Problems Mounting
Italys economy grew less than forecast in 2018. Italy needs to borrow more than it thought and public debt rising faster than expected.
The Italian economy grew 0.9 percent in 2018 according to national statistics bureau ISTAT. This is less than the 1.0 percent the Italian government reckoned Italy would do.
Italy is in recession with economic contraction in the last two quarters of 2018.
Worse is that there appears to be no respite Italy anytime soon. If anything things are going to get worse for Italy in the first quarter of 2019 at least.
Italys already massive debt pile continues to grow. The 2018 debt to GDP ratio was the highest on record according to ISTAT. Italian government thinks debt will fall in 2019 but its set to increase further.
31st January 2019 Italy Economy In Recession
Italys economy fell into recession in the last quarter of 2018 according to official figures from Istat statistics office.
The eurozone as a whole is very close to recession. Eurozone growth in the last quarter of 2018 was only o.2 percent.
The Eurostat agency has reported that the European Union EU grew at only 0.3 percent in the fourth quarter of 2018.
14th December 2018 Italys Government Backs Down On Setting Its 2019 Budget
The European Union EU would have fined Italy for non compliance with EU fiscal rules if it did not change its budget for 2019.
The European Commission rejected Italys 2019 budget as it was going to borrow more to fulfil its promises to Italian voters.BusinessRiskTV
The Italian government will now have to find 7 billion euros of savings in 2019.
- Italys citizens’ income scheme will not be brought in in January 2019. It will be delayed until March
- Changes will be made to retirement and pension plans to provide budget savings
21st November 2018 Difficult To See Where Compromise Will Come From
Italys Deputy Prime Minister Matteo Salvini said on Wednesday he was not open to negotiations over Italys budget deficit target of 2.4 percent of gross domestic product next year though other aspects of the budget could be discussed.
The European Commission has rejected Italys expansionary 2019 budget because it reverses a commitment to reduce borrowing made by the previous government.
14th November 2018 No Significant Change To Italys Budget ReSubmission Means Threat To Survival Of Eurozone Just Increased Today
Italy resubmitted draft 2019 budget to the European Commission EC with the same growth and deficit assumptions as the draft budget already rejected for breaking European Union rules.
- The EC says Italys economic growth assumptions in budget are too high
- Italys planned budget deficit is too big
- Italys debt increasing not reducing
Italys eurosceptic government is defying European Union EU fiscal rules which opens it to financial penalties being imposed by the EC.
The only concession offered by Italy in revised plan is to sell more state assets and to pay off debt faster.
EU fiscal rules require highly indebted governments such as Italy to cut their structural deficit and debt every year until government books are in balance or surplus in structural terms and public debt is below 60 percent of GDP.
Italy has a public debt of 131 percent of GDP the second highest in the EU after Greece and other euro zone finance ministers are worried Italy could trigger a sovereign debt crisis like that one that nearly killed the euro some years ago.
Markus Ferber a German conservative on the European Parliament’s Economic and Monetary Affairs Committee called on the Commission to be tough when it issues its assessment of the revised Italian budget on 21st November.
Italys Deputy Prime Minister Matteo Salvini warned the EU not to make a mistake of imposing financial penalties on Italy.
12th November 2018 Italys Debt Level Is Bad Enough As It Is Without Making It Worse?
The other side of the story could be that Italy needs more debt to get itself out of the hole it is in.
Italys budget crisis is raising broader concerns about the sustainability of its public debt and risks spreading turbulence to others European Central Bank Vice President Luis de Guindos said on Monday.BusinessRiskTV
Italys draft budget has been rejected by the European Commission EC as it proposes to take on even more debt that is incompatible with its forecast economic growth levels.
6th November 2018 Euro Zone Forcing Italy To Change Its Budget For 2019
Euro zone finance ministers have formerly insisted Italy changes its 2019 budget before a deadline set for next week. Italy faces financial penalties if it refuses to change its budget.
Breaking EU fiscal rules holds the prospect of a fine of 0.2 percent of Italys GDP being imposed by the European Commission but to date it has never happened.
Italys Finance Minister Giovanni Tria said he was working on a compromise.
Italys proposed 2019 budget has been submitted for approval by European Commission. The 2019 budget breaks European Union EU rules because it entails an increase of 0.8 percent in Italy’s structural deficit next year rather than a required reduction of 0.6 percent in relation to gross domestic product.BusinessRiskTV
Italy has until 13th November 2018 to send in a revised draft 2019 budget to be approved by the European Commission EC. Italy argue it needs to borrow more to grow its economy. If you are in the club you have to abide by club rules. Whether Italy will remain in the club is yet to unfold.
23rd October 2018 Italys Budget Rejected By European Commission EC
EC says Italys draft 2019 budget breaks European Union EU rules and is unacceptable to EC. The EC has asked Italy to submit a new budget within three weeks or face disciplinary action from EC. The EU could fine Italy up to 0.2 percent of GDP if it fails to amend its budget for 2019.
This is the first time the EC has asked a eurozone country to revise its draft budget.
Italy has second highest debt to GDP ratio in the EU after Greece. It costs Italians more than any other country to service its debtBusinessRiskTV
To comply with the EU rulebook Italy would have to borrow less and will therefore have less money to fulfil public spending in Italy. The Italian government says it has no plans to change its 2019 budget.
19th October 2018 Italian Economy Almost Stagnating
The Italian economy grew just 0.1 percent in the third quarter of this year from the previous three months according to Bank of Italy estimate.
Italian economy still eurozones third largest economyBusinessRiskTV
The Italian government has revised growth forecasts for 2018 to 1.2 percent.
17th October 2018 Italian Government Approves Budget That Contravenes European Union EU Deficit Rules
The Italian cabinet has signed off a budget for 2019 that will increase Italian debt and deficit. Other countries have had to cut their budget to me EU rules. This has resulted in other countries cutting pensions and benefits in their country. Meanwhile Italy plans to increase debt to help fund cutting the retirement age and increase welfare spending.
13th October 2018 Italy Is European Unions Biggest Threat Not Brexit
What will the European Union EU do with a problem like Italy. Italys budget problems could lead to the break up of the EU.
Italys new populist government wants to increase borrowing over the next three years to spend more and lower taxes.
However Italy already has the second highest debt problem in Europe after Greece but Italys economy is much bigger than Greeces. Italy is a much bigger problem for the EU than Greece. Italy presents an existential problem for the EU where as Greece did not.
In addition Italys bank threaten the whole banking system in Europe and beyond regardless of the Italian governments plans.
If Italy does increase its debt burden it will thumb its nose at European Union budget rules.
14th August 2018 Italy Bridge Collapse Kills At Least 20 People
A bridge in Genoa has collapsed killing at least 20 people. People fell in their vehicles on top of people 150 feet below the bridge.
8th August 2018 Slower Growth in 2019 Forecast
The Italian government is forecasting even slower economic growth in 2019. It is forecasting growth of 1.2 percent in 2018 and 1.1 percent in 2019.
Slower economic growth i Italy is of particular concern given its high debt level and plans to increase the debt pile even more.
6th August 2018 Trucks Collide And One Explodes Near Bologna
A lorry carrying cars collided on a bridge with another full of flammable materials. The bridge partly collapsed and fire spread to a car park below where several more vehicles exploded.
Two people have been killed and at least 60 injured.
3rd July 2018 Italy Drowning In Debt Limits Options For Italian Government
Italy has more than 2 trillion euros in debt. Italys banks are extremely weak and unlikely to recover strength soon. Italy can not afford to stay in eurozone and can not afford to leave it! The whole Euro Zone area would struggle to bail out Italy if it really needs to.
Threats that Italy will leave the euro are confounded by the fact it can not leave even if it wanted to. One of the biggest supporters of the euro is now one of the biggest threats to the survival of the eurozone. Many in the eurozone would rather force Italy out of the eurozone than help it recover.
19th June 2018 Italian Debt Reduction Still Key Aim For New Italian Government
Italy will try to reduce debt to protect investor confidence in the Italian economy according to Italian Economy Minister Giovanni Tria. Italy will stay on its debt reduction path so as to not scare away investors who may stop lending money to Italy if they think they are going to lose their money.
14th June 2018 Italy Could Block European Union EU Trade Deal With Canada
Italy will not ratify the EUs free trade agreement with Canada according to Italys agriculture minister. 28 EU member states must approve the Comprehensive Economic and Trade Agreement CETA. However Italy is not happy with the potential loss of farm products if Italy agrees to CETA.
7th June 2018 Weak Italian Growth
According to Italys statistic agency ISTAT it is likely that Italys economic growth will slow this year. Economic growth in the first quarter of 2018 was only 1.4 percent. Italy is therefore in danger of slipping into a recession.
Retail sales continue to fall month after monthBusinessRiskTV
28th May 2018 New Elections In Italy?
Political chaos in Italy will probably only be resolved by another round of elections.
Giuseppe Conte has failed to form a new government after the last elections several months ago. His anti-EU candidate for economy minister has been rejected by Italys president.
Recent surveys of Italian public opinion suggest Italexit is still long way off
17th May 2018 Italy Set To Ignore European Union EU Spending Rules
It will be interesting to see how the EU reacts to the Italian government massive increase in spending on top of an already profligate budgetary policy.
The EU expects members to limit government budget deficits to 3 percent of gross domestic product GDP and debt to 60 percent of GDP.. If member countrys do not comply they should face punishment. However the EU changes the rules depending on who the rule breaker is.
6th April 2018 Central Bank Of Italy Knows The Southern Europe Countries Need QE For A lot Longer
The Bank of Italy wants the European Central Bank ECB to maintain cheap money for significantly longer.
An executive board member Fabio Panetta said that its necessary to maintain current ECB policy of effectively making money cheap to borrow.
Italys central bank does not want to withdraw expansionary monetary policy until the Eurozone is growing fast. Germany on the other hand want to make borrowing more expensive as it has an overheating economy.
16th March 2018 Italys Banks Given Get Out Of Jail Card
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