Italy Recession

Facing its deepest recession since World War II and with business confidence collapsing, the coronavirus pandemic is hitting Italy's economy hard.

The virus has so far mainly battered China, causing nearly 80,000 infections and almost 2,800 deaths, according official Chinese figures. It has spread to another 46 countries, where about 3,700 cases and 57 deaths have been reported, according to the WHO. There is no cure for the coronavirus, which can lead to pneumonia, and a vaccine may take up ...

Banks in Italy have been struggling to deal with bad loans left behind by a deep recession, leading to a series of capital raisings and consolidation in the sector as Rome tries to steady confidence in the sector.

The number of poor people in Italy rose to 10.48 million people which is 16.6 percent of the population in 2013, Italy's official data agency Istat said on Monday.

Pope Francis on Sunday expressed support for Italians protesting over high unemployment, recession and austerity but urged them to reject the "temptation of violence".

Thousands of people took to the streets of Rome on Saturday for an anti-austerity protest, with a massive security presence amid fears of clashes.

Prime Minister Enrico Letta on Sunday issued an apology to the young Italians who have found themselves forced to leave the recession-hit country in the face of record-high youth unemployment.

More than three years after the end of the global recession, sluggish activity across rich and poor economies is confounding policymakers who expected more by now and raising concerns that options for kick-starting growth are increasingly limited. They face a sobering checklist

Italians began voting on Sunday in one of the most closely watched elections in years, with markets nervous about whether it will produce a strong government to pull Italy out of recession and help resolve the euro zone debt crisis.

Italians hit by austerity and recession on Saturday prepared to take to the polls for an election that is being watched around Europe, a day after a mass rally in Rome showed rising social discontent.

The European Union predicted Friday that the economy of the 17 member countries that use the euro will shrink again in 2013 even though it will see its fortunes improve in the second half of the year.

The euro zone fell into a recession in July-September, the second since the global financial crisis in 2009, as French resilience could not make up for a slump across Europe and the three-year debt crisis slowed Germany to a crawl. Economic output in the 17-country euro zone fell 0.1 percent in the third quarter, the EU's statistics office Eurostat...

Experts and leaders gathered in Italy may disagree on the cure, but the malady seems clear: the world economy faces a "perfect storm" of risks that include prolonged crisis in a structurally flawed Europe, political paralysis pushing America off a "fiscal cliff," a slowdown in the emerging economies drying up the last of global growth, and the spec...

The Purchasing Managers' Index (PMI), published by Markit, showed the economic rot that began in smaller periphery members of the 17-nation bloc is now taking hold even in Germany, the region's largest and strongest economy.

The eurozone is grappling with sky-high debt levels and record unemployment of 11.2 per cent. Compared with the year before, the eurozone's economy is 0.4 per cent smaller. The region's economy would have slipped into recession had it not been for better-than-expected GDP figures from its two leading economies, Germany and France.

Facing its deepest recession since World War II and with business confidence collapsing, the coronavirus pandemic is hitting Italy's economy hard.

The virus has so far mainly battered China, causing nearly 80,000 infections and almost 2,800 deaths, according official Chinese figures. It has spread to another 46 countries, where about 3,700 cases and 57 deaths have been reported, according to the WHO. There is no cure for the coronavirus, which can lead to pneumonia, and a vaccine may take up ...

Banks in Italy have been struggling to deal with bad loans left behind by a deep recession, leading to a series of capital raisings and consolidation in the sector as Rome tries to steady confidence in the sector.

The number of poor people in Italy rose to 10.48 million people which is 16.6 percent of the population in 2013, Italy's official data agency Istat said on Monday.

Pope Francis on Sunday expressed support for Italians protesting over high unemployment, recession and austerity but urged them to reject the "temptation of violence".

Thousands of people took to the streets of Rome on Saturday for an anti-austerity protest, with a massive security presence amid fears of clashes.

Prime Minister Enrico Letta on Sunday issued an apology to the young Italians who have found themselves forced to leave the recession-hit country in the face of record-high youth unemployment.

More than three years after the end of the global recession, sluggish activity across rich and poor economies is confounding policymakers who expected more by now and raising concerns that options for kick-starting growth are increasingly limited. They face a sobering checklist

Italians began voting on Sunday in one of the most closely watched elections in years, with markets nervous about whether it will produce a strong government to pull Italy out of recession and help resolve the euro zone debt crisis.

Italians hit by austerity and recession on Saturday prepared to take to the polls for an election that is being watched around Europe, a day after a mass rally in Rome showed rising social discontent.

The European Union predicted Friday that the economy of the 17 member countries that use the euro will shrink again in 2013 even though it will see its fortunes improve in the second half of the year.

The euro zone fell into a recession in July-September, the second since the global financial crisis in 2009, as French resilience could not make up for a slump across Europe and the three-year debt crisis slowed Germany to a crawl. Economic output in the 17-country euro zone fell 0.1 percent in the third quarter, the EU's statistics office Eurostat...

Experts and leaders gathered in Italy may disagree on the cure, but the malady seems clear: the world economy faces a "perfect storm" of risks that include prolonged crisis in a structurally flawed Europe, political paralysis pushing America off a "fiscal cliff," a slowdown in the emerging economies drying up the last of global growth, and the spec...

The Purchasing Managers' Index (PMI), published by Markit, showed the economic rot that began in smaller periphery members of the 17-nation bloc is now taking hold even in Germany, the region's largest and strongest economy.

The eurozone is grappling with sky-high debt levels and record unemployment of 11.2 per cent. Compared with the year before, the eurozone's economy is 0.4 per cent smaller. The region's economy would have slipped into recession had it not been for better-than-expected GDP figures from its two leading economies, Germany and France.