Italy’s Unemployment Soars to Record High on Recession (Oct 2013)

unemployment

Source: Bloomberg – Italy’s Unemployment Soars to Record High on Recession

Notable excerpts:

Italy’s jobless rate rose more than forecast in September to an all-time high as companies failed to hire amid concerns about the persisting recession, the longest since World War II.

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Eurozone Debt Burden Rises To Record 92.2 Percent Of GDP In Q1 (Jul 2013)

Debt-Bomb

Source: Washington Post – Eurozone debt burden rises to record 92.2 percent of GDP in Q1

Notable excerpts:

Europe’s debt dynamics keep getting worse in spite of years of cost-cutting and tax hikes designed to return public finances to health.

Official figures showed Monday that the debt burden of the 17 European Union countries that use the euro hit all-time highs at the end of the first quarter even after austerity measures were introduced to rebalance the governments’ books.

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Italy’s Debt Highest Since Dictator Mussolini: Chart (Mar 2013)

italy_debt_2012

Source: Bloomberg – Italy’s Debt Highest Since Dictator Mussolini: Chart

Notable excerpts:

Italy’s public debt rose to the highest level since Benito Mussolini won elections 89 years ago, paving the way for his 20-year dictatorship.

The CHART OF THE DAY shows debt jumped in 2012 to 127 percent of gross domestic product from 120.8 percent a year earlier. That’s the most since 1924, when Mussolini won 64 percent of the popular vote in elections that opposition members said were marked by irregularities. The chart is based on data from the Bank of Italy and national statistics office Istat.

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ECB Backstop Soothes Selling Pressure On Italian Debt (Mar 2013)

euro_crisis

Source: Reuters – ECB backstop soothes selling pressure on Italian debt

Notable excerpts:

The lack of progress in talks to form a government in Italy weighed on the country’s bonds on Monday, but the so-far-untested European Central Bank bond buying backstop prevented a deeper sell-off.

Elections last week produced a hung parliament, raising the risk of a prolonged deadlock, repeat polls and the paralysis of efforts to keep Italy’s 2 trillion euro public debt under control.

The ECB’s promise to buy bonds issued by struggling states offered investors an incentive to hold risky assets, although some in the market have questioned how the scheme could be activated if Italy did not have the reform-committed government required by a potential central bank support programme.