Italy’s Political Scandals Rattle Public Trust. Berlusconi’s Retreat Upends Political Field. Berlusconi Convicted of Tax Fraud in Italy.
Ministry of Foreign Affairs - European Policy - Italy in the EU. Italy and the European Union. France, Italy eye costly rail link despite EU budget row. Preserving Cabrini-Green's images In the sharp sun of an April afternoon, Nate Lanthrum walks through the remains of Cabrini-Green giving away what he has taken.
He looks out of place, a white guy carrying a $1,500 Nikon D700 camera, but the residents are used to him by now and greet... Blackhawks thrilled to have Brent Seabrook back Starting with Game 6 Sunday, Brent Seabrook's timeout will be over and the defenseman will be back on the ice — so long as he promises to play nice. The Blackhawks have done pretty well in Seabrook's absence, winning all three games the NHL... NFL draft preview: Defensive ends As the NFL draft nears — it takes place May 8-10 — we're taking an 11-day, position-by-position look at what's out there and what the Bears need. In May 1974, Tribune delivered 2 Watergate bombshells Obama denounces racist comments reportedly made by NBA owner. Italy News - Breaking World Italy News.
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Italy’s Political Risk. By Delusional Economics, who is horrified at the state of economic commentary in Australia and is determined to cleanse the daily flow of vested interests propaganda to produce a balanced counterpoint. Cross posted from MacroBusiness. As reported on MB last week Moody’s slapped Italy with another downgrade noting the following factors: 1. Italy is more likely to experience a further sharp increase in its funding costs or the loss of market access than at the time of our rating action five months ago due to increasingly fragile market confidence, contagion risk emanating from Greece and Spain and signs of an eroding non-domestic investor base.
The risk of a Greek exit from the euro has risen, the Spanish banking system will experience greater credit losses than anticipated, and Spain’s own funding challenges are greater than previously recognized.2. You may remember that back in January S&P downgraded much of Europe based on five major points. Can Italy Be Saved? - Michael Spence. Exit from comment view mode.
Click to hide this space MILAN – As the economist Mario Monti’s new government takes office in Italy, much is at stake – for the country, for Europe, and for the global economy. If reforms falter, public finances collapse, and anemic growth persists, Italy’s commitment to the euro will diminish as the perceived costs of membership come to outweigh the benefits. And Italy’s defection from the common currency – unlike that of smaller countries, like Greece – would threaten the eurozone to the core.
Italy is a large economy, with annual GDP of more than $2 trillion. But rising interest rates are causing the debt-service burden to become onerous and politically unsustainable. The need to refinance outstanding debt is not the only challenge. But Italy has significant strengths as well. That is not all. The End of Berlusconi and the Future of Italy. Italian Prime Minister Silvio Berlusconi is on the way out, the story goes.
Come Monday, his center-right coalition, which has dominated Italian politics for nearly 20 years, will be a thing of the past, and Italy will be spared the wrath of the European debt crisis. The opposition thinks it is time to uncork the prosecco. But it is not. Italy is far from fixed. Berlusconi first walked the magnificent halls of the Palazzo Chigi -- the palatial prime minister's residence -- in 1994, when he was a media tycoon, football entrepreneur, a bon vivant, a billionaire, and all of a sudden founder of a political party, Forza Italia.
Voters were captivated by Berlusconi's anti-establishment war cry: "I am a self-made man, not a politician! " Berlusconi's lifestyle was frivolous and excessive. To continue reading, please log in. Don't have an account? EU Facts: Italy. Italy was one of the six founding members of the European Community in 1957.
With a population of 61 million people, Italy is one of the largest countries in the EU. It is situated on the Italian peninsula in southern Europe. It has land borders with France , Switzerland, Austria and Slovenia . Eight Reasons Why Italy Is Such a Mess - By Uri Friedman. We're now in the throes of one of the most dangerous moments of Europe's two-year-old debt crisis.
Thus far, Italian Prime Minister Silvio Berlusconi's pledge to resign has failed to convince markets that Italy can pass unpopular austerity measures and repay its whopping $2.6 trillion in government debt. And while this lack of confidence has sent Italy's borrowing rate soaring above a threshold -- 7 percent -- that compelled Greece, Ireland, and Portugal to seek international help, many analysts argue that the world's eighth-largest economy is simply too big for Europe to bail out in the event of a default. In fact, Italy's problems run much deeper than a collapsed government and high borrowing costs, and range from heaping piles of trash in Naples to unsustainable birth rates.
What follows is a tour of eight key issues that are plaguing the country behind the scenes. Above, university students demonstrate in Palermo in Nov. 2010 aganst proposed budget cuts to the education system. Our Vanishing Ultimate Resource - Forbes.com.