Italy’s political crisis is entering a new phase and fresh elections could determine both its EU membership and whether it remains within the single currency, according to analysts. Voters in the euro zone’s third-largest economy are likely to find themselves heading to the polls again, following the fall of populist Prime Minister designate Giuseppe Conte […]
Read moreItaly’s power struggle is rattling global financial markets, with investors fearful the looming prospect of fresh elections could be fought over the country’s role in the European Union and the euro zone. Rome’s latest political crisis comes at a time of elevated tensions between euroskeptic populists, who emerged victorious from the March election, and pro-EU […]
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Global growth is still relying on ‘policy crutches,’ says OECD chief
The global growth story is no longer new, but the broad-based economic recovery underway a decade after the 2008 financial crisis still needs some propping up from fiscal policy, according to the head of the Organization for Economic Cooperation and Development (OECD). About three-quarters of OECD members are basing their fiscal policy on some kind […]
Read moreEuropean stocks are set to open lower on Tuesday morning, as investors monitored the looming prospect of early elections in Italy. The FTSE 100 is seen five points lower at 7,692; the CAC is expected to open off around 13 points at 5,493; while the DAX is poised to start down 50 points at 12,829, […]
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Trump trade advisors Ross and Lighthizer to meet the EU's top trade official this week
Europe’s top trade official Cecilia Malmstrom will meet U.S. counterparts Wilbur Ross and Robert Lighthizer in Paris on Wednesday, two days before a temporary reprieve from U.S. steel and aluminium tariffs is due to expire. “A bilateral meeting with (U.S. Commerce) Secretary Ross is scheduled to take place on the margins of the OECD meeting […]
Read moreItaly’s Five Star Movement leader on Monday called on supporters to protest peacefully, a day after a standoff with the president forced it to abandon efforts to form a coalition government with the far-right Lega. “Let’s not give up now, we must not give in to the arrogance of the institutions which have decided to […]
Read moreSpanish Prime Minister Mariano Rajoy will face a vote of confidence in his leadership on Friday as corruption convictions handed down to dozens of people linked to his center-right People’s Party (PP) threatened his six-year rule. Spain’s parliament agreed on Monday that the debate and vote would take place on Thursday and Friday, although the […]
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Italy president names ex-IMF official as interim leader with fresh elections expected
Italy’s president appointed former International Monetary Fund official Carlo Cottarelli as interim prime minister on Monday with a task to try and form a new government and bring order to political and constitutional turmoil. The euro zone’s third-largest economy has been seeking a new government since inconclusive March elections, with anti-establishment forces abandoning their efforts […]
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Traders are worried this could be the 'big unwinding' of Italian bond markets
Italian bonds have witnessed one of their worst trading weeks since the euro zone sovereign debt crisis, with many traders getting a stark reminder of the volatility that once characterized markets in the region. On Friday, two-year Italian bond yields rose 35 basis points in one day — almost equivalent to the entire range of […]
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WHEN the dream of a smooth flight turns into the nightmare of an airliner crash, understanding what went wrong is sometimes straightforward. That was the case with a Malaysia Airlines flight which crashed in the summer of 2014, killing 298. This week Dutch and Australian investigators conclusively showed that it was shot down by a […]
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