Italy’s Vaccine Passport Power Grab
Is Draghi embellishing a crisis to sidestep democracy?… Read More Italy’s Vaccine Passport Power Grab
Category: Italy Banking Crisis
Italy’s Government Is Outsourcing Its Economic Strategy To Private Management Consultants McKinsey
Last month, former European Central Bank chief Mario Draghi formed a new government whose top ministries were handed to unelected technocrats. Now his “government of experts” has outsourced its economic plan to private management consultants McKinsey — without voters having ever had any say in the matter.… Read More Italy’s Government Is Outsourcing Its Economic Strategy To Private Management Consultants McKinsey
The ECB Adds Another Half Trillion in QE, Even As Italy Eyes Debt Cancellation on the Last Batch
The central bank is in effect holding the fort through the worst of the crisis and shielding vulnerable states from markets until late 2021… Read More The ECB Adds Another Half Trillion in QE, Even As Italy Eyes Debt Cancellation on the Last Batch
Deepening Deflation Pushes Southern Europe Closer to a Debt Spiral
Eurozone slides further into a debt-deflation trap, risking a protracted economic depression in the south and slow-motion insolvency crisis… Read More Deepening Deflation Pushes Southern Europe Closer to a Debt Spiral
Italy Once Again on the Eurozone Worry List
A new tsunami of bad debts washes ashore while banks are still struggling with the debris from the prior tsunami of bad debts… Read More Italy Once Again on the Eurozone Worry List
How Germany’s Courts Might Destroy the Eurozone
As the largest creditor nation in the eurozone and its largest economy, Germany has much to lose if it ends up being the party responsible for the breakup of the single-currency union… Read More How Germany’s Courts Might Destroy the Eurozone
European Bank Stocks Collapse to March 2009 & 1988 Levels
Just how much lower can they go? To Zero. And the ECB’s negative interest rates are driving them closer to it… Read More European Bank Stocks Collapse to March 2009 & 1988 Levels
Tourism is 10% of GDP in France, 13% in Italy, 15% in Spain. And Now it’s in Free Fall
“If the situation of generalized panic continues, thousands of businesses, especially small ones, will first enter a liquidity crisis, then close their doors.”… Read More Tourism is 10% of GDP in France, 13% in Italy, 15% in Spain. And Now it’s in Free Fall
Wall Street Magic Tricks Make Banks Look Safer Than They Are
Increased scrutiny hasn’t put an end to accounting sleight-of-hand… Read More Wall Street Magic Tricks Make Banks Look Safer Than They Are
What the ECB Didn’t Say About Monte dei Paschi’s Bailout
The Italian lender’s earnings have been hobbled by hidden losses and bad loans.… Read More What the ECB Didn’t Say About Monte dei Paschi’s Bailout
ECB To Italian Government: Your Gold Is Ours
The ECB is letting the Italian government know that it won’t sit by and allow the Bank of Italy to sell off its gold reserves to help right the country’s troubled finances… Read More ECB To Italian Government: Your Gold Is Ours
Bad Loans Still Too High at Eurozone Banks, ECB Warns
NPLs remain dangerously to catastrophically high in Italy, Greece, Portugal, and Cyprus… Read More Bad Loans Still Too High at Eurozone Banks, ECB Warns
