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Category Archives: Economy of Italy

Belgian Press: Macron Has Between 63% And 64% Of The Vote

While French pollsters and poli-pundits are prohibited from providing “hot-takes” or preliminary exit-polls ahead of the closing of polls at 8pm local time, the Belgian press is not similarly constrained, and according to L’Echo, citing early exit polls, Macron would win the vote with between 63% and 64% of the vote, while empty ballots would […]

Here’s Why Italy’s Banking Crisis Has Gone Off The Radar

Authored by Don Quijones, Spain & Mexico, editor at Wolf Street Here’s Why Italy’s Banking Crisis Has Gone Off the Radar For a country that is on the brink of a gargantuan public bailout of its toxic-loan riddled banking sector, or failing that, a full-blown financial crisis that could bring down the European financial system, […]

Italy Seeks Authorization To Raise National Debt To Fund Bank Bailouts, As BMPS Rescue Plan In Jeopardy

While Italy scrambles to conclude a private sector rescue of ailing Monte Paschi, which hopes to raise €5 billion in the form a share sale to anchor and retail investors, while at the same time the bank is underoing a debt for equity swap, moments ago Reuters reported that Italy’s cabinet will meet later on […]

Moody’s Cuts Italy Ratings Outlook To Negative

Moody's has cut Italy's long-term senior unsecuredd government debt rating outlook from 'stable' to 'negative', leaving it at Baa2 for now. Citing "slow and halting progress" on economic and fiscal reform in Italy, noting that reduction in Italy’s large debt burden will be further postponed given subdued medium-term growth prospects, recent fiscal slippage. The drivers […]

All Eyes On Monte Paschi, Whose Bailout Is Now In Doubt, And Italian Bank Sector Contagion

As we noted last night, when we previewed the virtually assured “No” vote, we said that “a strong “No” vote will cause Prime Minister Renzi to resign, leading to political instability in Italy. Furthermore, a “No” vote is expected to kill a long-running attempt to rescue Italy’s third largest and oldest bank, Monte dei Paschi, […]

Up To Eight Italian Banks May Fail If Renzi Loses Referendum

Just as we were concluding our write up on the return of Europe’s solvency crisis, facilitated by Donald Trump’s NATO funding demands and the end of the ECB’s unprecedented can kicking exercise, the FT reported that as many as eight of Italy’s troubled banks “risk failing” if prime minister Renzi loses next weekend’s constitutional referendum […]