The CDM gives the green light to the Def in a light version, without the programmatic part: "Agreed with the EU". In the Nadef the GDP for 2024 was at +1,2%. Debt at 137,8% this year, then increasing until 2026. Giorgetti: “If necessary…
In its "Notes and Studies", Assonime takes stock of the provisional agreement reached in the EU on the reform of the Pact. Here are the most important changes
The Paris Organization: it is necessary to reduce spending on higher social security checks. And then: "The debt must be taken on a more prudent path"
In the last three months alone, US debt has seen a surge of one trillion. The increase in rates, pensions, healthcare and wars weigh heavily. 30% of the bonds are in the hands of foreign institutional investors, led by Japan. Here are the next deadlines…
In his first official appearance as Governor at the 60th anniversary of Iccrea, Fabio Panetta underlines that interest rates are already at a level "sufficient to bring inflation back in line with the 2% objective" and "useless damage" must be avoided For…
Italy passes the tests of the rating agencies. Even the fearsome Moody's confirms the Baa3 rating and improves the outlook for our country's economy
Despite making their hopes due to the date, but also due to the unpredictability of the US agency, analysts are quite optimistic. But a downgrade would push the spread to 250 bps and other serious consequences. Let's see which ones
Panetta is considered a right-wing Draghi: his technical competence is beyond question, but to become a good Governor he will have to demonstrate independence from political power, especially on 3 points. Will he make it?
Growth forecasts slow down, but this does not change the "judgment" on the country's ability to manage its debt towards the market
Tomorrow on FIRSTonline the new episode of the Guide to Finance created by REF Ricerche with the collaboration of Allianz Bank Financial Advisors in which the economist Fabrizio Galimberti will explain the explosion of the financial economy in the world and the importance of managing efficiently...
With its second budget law, the Meloni government goes a little over the budget to guarantee a few crumbs for the lower classes, while postponing growth to a future yet to be defined, but a compromise maneuver will not help...
The Italian companies interviewed by Bankitalia report a significant deterioration in the economic situation. The IMF reduces Italy's GDP to 0,7% in both 2023 and 2024, more pessimistic than the Mef. The Fund instead provides better news for inflation and…
The growth of the spread, the slowdown in GDP and the wait for the rating agencies' judgment on the sustainability of our public debt keep Prime Minister Giorgia Meloni but also Italy on edge
How did Greece emerge from the crisis that put the euro at risk? This question is answered by a study by the Observatory on Public Accounts of the Catholic University led by Giampaolo Galli
Argentina, grappling with one of the worst financial crises in its history, is heading for elections - Peronisms choose Massa, Larreta and Bullriich as challengers - Businesses choose the yuan
Markets awaiting parliamentary approval of the US public debt agreement that the Republican front is trying to sabotage - China slows down - Btp-Bund spread narrows
Italy will have to keep spending growth within the 2024% threshold in 1,3, accelerate with the PNRR, reform the land registry, cut taxes on labor and promote the green transition: here are the indications from Brussels
The rating agency expects a GDP to increase this year by 0,4%, to then recover from the previous year at +1%. Debt/GDP seen at 136%, against the euro area average of 93%.
The EU has presented the guidelines on the budgets of the member states, also considering the reform of the Stability Pact which should receive the green light from Ecofin next Tuesday
The placement phase of the Btp Italia reserved for institutional investors has closed: double the number of orders compared to that of June. Waiting for Fitch's judgment on Italy's sovereign rating
To deal with economic uncertainties, Rai - according to the Business Observatory coordinated by Riccardo Gallo - has only two options: increase debts or the license fee, starting as early as 2022 - But politics could choose other paths
Focus Investment, a company formed in 2015, has announced a restructuring of corporate debt that can serve as a benchmark for financial transactions of similar size
the Senate is discussing a bill to support agricultural businesses in difficulty by providing for the settlement of onerous liabilities and deferring payments
Ancient prejudices weigh on the image of the Italian economy. Proudly, here is the truth about industry, competitiveness, public finances, pensions and external debt
The metamorphosis of the central banker into an active player is well represented by the evolution of Draghi's thought, which today once again indicates the way forward to get out of the crisis: money is well spent on innovation and education
From Monday Local Authorities, Regions and Autonomous Provinces will be able to ask Cd for the advance of extraordinary liquidity necessary to repay debts to supplier companies and other creditors - Here's how to do it
Rates are said to be low. Am I enough? Is monetizing public debt economically and morally unseemly? Exchange rates are moving in obedience to economic events. Stocks look to when the worst is over, but are they right?
There are three arrows in the bow of those who argue that there will be an inflationary flare-up. But they popped up. While there are two that will keep her dead and buried
Argentina is once again on the brink of bankruptcy, it doesn't know how to repay its external debt and poverty has reached appalling levels, but the cause is not the Coronavirus
Serious warning from the new Argentine president to the IMF on the country's state of insolvency and the current impossibility of honoring the commitments undertaken by his predecessor
The danger of introducing rigid automatic parameters on debt restructuring has been averted. But the current political debate shows that we are far from understanding the reasons for our crisis. If we don't think now about reducing the debt, how…
On the occasion of his first annual report, the president of Consob defends the government line and launches the proposal for a European bond. To revive confidence, a 20 billion public-private investment plan is useful
Brussels asks the Italian government to explain - by Friday - why it has not complied with the Community rules on the reduction of the public debt
The American agency Moody'e confirms the BBB3 rating for Italy, one step just above the junk level - And the markets breathe a sigh of relief.
The American agency avoids downgrading Italy and confirms the BBB rating with a negative outlook but highlights the "high level of debt" and the worrying increase in "political uncertainty" - Fitch forecasts a +2019 GDP for 0,3, XNUMX% and a public deficit…
CIO Flash Bulletin Lombard Odier - In a very delicate moment in green-gold history, Brazilian voters have chosen to rely on the man of the extreme right, nostalgic of the military dictatorship that oppressed Brazil until 1985 - Here are the implications…
According to the economic analysis center REF Ricerche, the Government's estimates contained in the Def are "exposed to wide margins of uncertainty" and it is possible that "the economic policy framework indicated by the government will be revised during construction"
In 2018, GDP will grow by 1,3% including expected by the EU, in 2019 by only 1% - While the EU is once again asking us for a corrective measure, the debt hits a new record, but Tria reiterates: "No correction, the gap will close".
Tomorrow Sergio Marchionne raises the curtain on FCA's new strategic plan that his successor will implement - All eyes on the house's debt: will Marchionne really be able to clear it by June? The bet is worth a tie
Global Thinking Foundation lands in the USA to commit itself to financial literacy projects, shared in the widespread experience overseas towards weaker groups and families and pursuing goals of social and financial inclusion. Whereas the G20 itself states among its principles the…
Strong rebound of the title on the Stock Exchange after the accounts. Ebit rises, debt almost halved - 2018 targets and plan for demerger of Magneti Marelli activities confirmed - Jeep boom (+37%) brings global deliveries…
According to the US Congressional Budget Office, in 2020 the deficit will break through a trillion dollars, while the debt-to-GDP ratio will reach 96,2% in 2028 - Both levels had never been seen in times of peace -…
The statistical institute has released updated data on the public accounts for the fourth quarter of 2017. The deficit/GDP rose from 1,9 to 2,3%. The debt/GDP ratio has also been revised upwards. The new numbers record Eurostat accounts on the incidence of the bailouts of…
The March Forecast Report, presented in Bologna, highlights a GDP still growing for the current year by 1,4%, thanks to a good performance in international trade and the European monetary policy which will still be very expansive - However …
World debt has reached 217 trillion dollars: before the financial crisis it was 149 trillion - This is what Miles Geldard, senior advisor of Jupiter Asset Management, explained in Milan, according to which the size of the debt…
A multi-boutique platform established within Generali Investment Partners that will develop strategies for investing in infrastructure debt for both internal and external clients of the Group.
Strong signal launched by Vincenzo Boccia during the Assise of Confindustria in Verona: "Don't take steps back from the reforms of the Renzi-Gentiloni duo". "What is needed is stability and continuity, to be achieved under any conditions, even through a grand coalition…
Moscovici and Dombrovskis write to Padoan for clarifications - Budget project at risk on both deficit and debt, but Brussels chooses to postpone the final report card also in order not to condition the upcoming electoral campaign.
A paper written by the economists Blanchard and Zettelmeyer disproves, on an empirical and economic theory level, all the preventive default proposals for Italy that have flourished in this period. Rising interest rates could lead to new fiscal crises…
The third quarter accounts go beyond the consensus and the title leads the Blue Chips to Piazza Affari. The guidance on debt is now improving from 1,4 to 1,3 billion. Estimates for 2017 confirmed, net of extraordinary items.…
Italy is recovering: the employment rate is growing compared to the last four months but the hours worked are still low. Prices are struggling to take off, inflation has not undergone positive changes during the summer months. Well the sector…
The issuance is part of a broader corporate debt refinancing operation. The entire operation is managed by numerous banks and rating agencies, including Bnp Paribas, Credit Agricole, HSBC, Unicredit, Jp Morgan and Goldman Sachs.
FROM INPIU.NET - The political testament of the German Minister of Finance, by pitting debtor European countries against creditor countries, would risk, if really applied, breaking up the Eurozone - The problem is that his successor in the new government…
The Governing Council met the Undersecretary for the Economy and Finance Pier Paolo Baretta for an exchange of views on the Update Note of the DEF
The deputy general manager Signorini in a hearing in the Senate on the Def (attached text in Pdf): "Ensuring the full implementation of the pension reform" - "The prospects for demand, employment and external accounts are favourable: now a significant cut of…
Athens can breathe a sigh of relief: the finance ministers accept the Commission's recommendation and put an end to the procedure opened in 2009, when the deficit exceeded 15% of the gross domestic product - Now the budget is in…
The US rating agency is concerned about the growth of loans. The outlook remains stable.
FROM ADVISE ONLY BLOG - Debt is an integral part of modern capitalism but today we wonder if we have gone too far and how sustainable the current level of debt is
WEEKEND INTERVIEW with LORENZO FORNI, new general secretary of Prometeia: "We expect GDP growth of 1,4% in 2017 and 1-1,15% in the following years, but our economy is showing structural "brakes" which limit recovery speed" - No…
Yonghong Li's advisors would have entered into preliminary contacts with Goldman Sachs and Bofa Merrill Lynch in order to repay by October 2018 the 180 million debt contracted with the Elliott fund to acquire from Fininvest, through the Luxembourg…
The prospects for a strengthening of the fundamentals in a long-term perspective remain positive, while the position of the infrastructures and in the judicial system still appears weak. Inflation remains at low average levels (1,5%).
The electricity group has renegotiated the repayment of the debt with the banks, extending the repayment to 2027. A loan convertible into equity of 180 million is also planned. A first early repayment was made at the end of July for 170 million, more are expected…
The Statistical Office has released second quarter figures and exceeds the government's annual target set at 6,5%. The risks of heavy debt
The European Commission has granted Italy a "lower than prescribed" budget adjustment as long as the debt drops - For Prime Minister Gentiloni, "this is good news"
While the Turkish currency is particularly vulnerable to changes in liquidity conditions in emerging markets, Lebanon is affected by external debt and the high dependence on the flow of short-term foreign currency deposits from non-residents.
We publish the text of the speech in the Montecitorio room by Ernesto Auci, deputy of Civic Choice and president of FIRSTonline, on the maneuver in the process of approval. Debunk some clichés: first of all on vouchers. And it relaunches the need to restart privatisation…
According to the Eurotower, the future cancellation of monetary stimulus measures risks causing sharp rises in yields in some countries - Chief economist Peter Praet stressed the need not to rush the process
Preliminary agreement finally reached between Greece and its creditors - The Ecofin meeting of 22 May is awaited, when the measures envisaged by the agreement will be discussed: cuts in pensions, tax reductions and reforms for energy and work -…
The governor of the Bank of Italy: "Let's not do our homework on debt" - "If we say we want to lower taxes for everyone, this is not sustainable" - "In the next few years there will be no jobs but nobody talks about it"
This is the best result since 2010 - Consumption growth slows down, while gross fixed investments accelerate - Tax burden down by 0,4%
This is confirmed by the new forecasts published today by the European Commission: Italian GDP will grow by 0,9% this year and by 1,1% in 2018 - Debt estimates worsen - The EU welcomes the commitment of the government of correct the trajectory of the accounts…
A report by Intesa Sanpaolo believes that the growth rate will be substantially maintained also in 2017 (+2,1%), while the good results in the fight against the deficit (expected below the 2% threshold) and public debt ( valued…
From AffarInternazionali.it - Initially Trump's promise of a tax reduction, especially for businesses, and heavy investments in infrastructure pushed the markets to a honeymoon with the new US presidency but gradually…
The OECD points out that, thanks to the savings on interest payments as a result of the ECB's monetary policy, a space has reopened in Italy for an expansive fiscal policy that allows for public investments and to support productivity and growth…
According to Brussels, the Italian GDP will grow by 0,7% this year and by 0,9% in 2017: both estimates are 0,1% lower than that of the government - The same goes for the 2017 deficit: according to the Commission it will remain at 2,4%, while…
The yield on the issue, equal to 3,025%, is well below the average cost of the Group's debt, which stood at 2016% at the end of June 5,1.
LUISS, policy brief of the School of European Political Economy with analysis document and proposals by Bastasin, L. Bini Smaghi, Messori, Micossi, and Toniolo - The rules of flexibility can be applied to post-earthquake reconstruction, but not to…
BY RUSSELL INVESTMENTS - The long-term picture for emerging market currencies and local currency bonds is positive - Three factors to consider: value, cycle and sentiment.
According to EC, IMF and Intesa Sanpaolo data, in 2015 Hungary's GDP grew by 2,9% thanks to domestic demand and exports. Growth of 2,0% is expected for this year, but the weak point remains the external debt above…
The Minister of Economy to Sky: "I do not exclude the possibility of bringing the IRES cut forward to 2017" - "Privatization of railways within 16-18 months" - In the event of a rejection of the constitutional referendum "my horizon is to go back to university ".
From "THE RED AND THE BLACK" by ALESSANDRO FUGNOLI, strategist of Kairos - The chimera of Helicoter Money that mutualises debt and lifts the economy from stagnation seduces and worries the markets - All the pros and cons but "yes…
Atradius underlines concerns about the solvency of local companies, although a systemic distribution of risks is not yet foreseen. Turkey is the most vulnerable: it is the refinancing risk that weighs.
Despite the launch of the new austerity package by Athens, the decision on the release of the second tranche of the bailout plan is postponed to the next few days - Of the 215 billion in aid granted so far, only 10 have ended…
He writes to Messaggero Massimo Varazzani, former extraordinary debt commissioner of the Capital, regarding some proposals of the mayoral candidates to extinguish the deficit accumulated by the local administration, which in 2010 was estimated at 22,4 billion euros.
The president of the German central bank, on a visit to Rome, reproaches our country for the excessive public debt and once again asks for a ceiling on the amount of government bonds in the portfolios of the banks.
Estonia grows by 2,5% and has the lowest public debt in Europe but the risks come from work and productivity - What a Deutsche Bank report says.
Downward revision of GDP growth estimates, Deficit-GDP ratio to 2,4%, sterilization of safeguard clauses, reduction of public debt - these are the central arguments of the Def that the Council of Ministers will approve today.
The ECB bulletin urges the 8 Eurozone countries that record worrying levels of debt to make further efforts to restore their accounts - Cut estimates on the GDP of the currency union.
A higher public deficit boosts economic activity in the immediate term, but at the cost of a future recession and an increase in the debt burden, which is already very high in Italy. Easy finance increases debt/GDP in the long run and…
The plant engineering company led by Stefano Cao used the resources obtained with the capital increase to obtain a new loan of 3,2 billion from the banks with which it paid off the debt with the former parent company, in line with…
Last year the debt remained below 500 million - In the fourth quarter the drop in advertising revenues was more contained than in previous quarters, settling at -1,2%. Corriere.it reached 26.000 subscribers in the first 26 days
Buenos Aires has reached a new agreement with five other hedge funds for a total of 250 million dollars and 185 million euros.
The abundant supply of money does not feed into the demand for goods and services and the yield on government bonds is so low that it seems to suggest keeping money liquid rather than taking market risks while a further reduction in…
From the IMF analysis, with the current cycle of raw materials, the depreciation of currencies has accentuated the financial vulnerability of the markets where the dollarisation of the economy and external debt are particularly high.
The current account adjustment is attributable to a reduction in imports rather than an increase in exports, while external debt rose to 108,5%. For 2016 an acceleration of imports is expected while the contribution of net exports will be modest.
The agreement provides for the cancellation of 20% of the debt, approximately 3,6 billion dollars, an increase in interest rates to an average of 7,75% from the current 7,2% and an extension of the repayment period by four years.
The Mediobanca R&D Yearbook certifies the decline in bank debt of large Italian companies - On the other hand, bond debt is growing sharply, reaching 155,8 billion euros in 2014 - The liquidity buffer parked at…
After requests from the Monetary Fund and the ECB to reconsider the sustainability of the Greek debt, the German chancellor opens up for the first time on the thorny issue: no to cuts in Athens' debt but yes to its restructuring by reviewing…
Berlin won a battle over Greece but, thanks to Draghi, it did not win hands down and above all it risks losing the war of political unity in Europe by supporting the selfishness of the national political classes who, feeling inadequate, do not want to give up sovereignty…
The president of the ECB and the German finance minister are the heralds of two antithetical visions of the Greek emergency - Draghi is against Greece's exit from the euro, even temporarily, but, like the IMF, raises the urgency of addressing the 'unsustainability of the Greek debt…
