Italy Economic Crisis

Italy on Tuesday received more reassuring evidence that its coronavirus infection rate was slowing thanks to a painful lockdown that other nations are starting to apply at great economic cost.

Italy began an eight hour general strike Friday at the call of two large unions to protest the rapid pace of economic and social reform introduced by Premier Matteo Renzi.

Pope Francis lamented that investment losses by banks trigger more alarm in the economic crisis than the struggle of people to feed their families, as he led a huge rally on Saturday to invigorate the church's moral conscience, hours after he held talks at the Vatican about the economic crisis with Germany's leader.

Development aid from rich countries to some of the world's poorest fell for a second year in a row in 2012, as big European donor countries hit by years of debt crisis cut their spending.

The euro zone's awkward handling of Cyprus's bailout puts extra pressure on the bloc's downgrade-threatened sovereign ratings and shows policymakers overestimate their ability to contain the crisis, credit agency Moody's said.

Italians head to the polls on Sunday and Monday for their first general election since the ousting of Silvio Berlusconi in a climate of economic crisis and amid fears of fresh political instability.

The countries worst hit by the European financial crisis are also perceived as being among the most corrupt in the European Union, and those perceptions appear to be getting increasingly negative, an international watchdog said in a new report released Wednesday.

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.

In an explosion of red-and-yellow joy, Spanish fans burst into chants of "Champions, Champions!" on Sunday to greet a thumping Euro 2012 win that swept away the clouds of economic crisis.

Addressing parliament in Berlin, Merkel accused top EU officials of putting the cart before the horse by proposing common euro zone debt before EU controls are in place on national budgets and economic policies.

If time is called on the euro one day, austerity fatigue could be the catalyst.

Asian shares slipped Thursday as weak US retail sales data raised concerns about sluggish economic growth

Italy on Tuesday received more reassuring evidence that its coronavirus infection rate was slowing thanks to a painful lockdown that other nations are starting to apply at great economic cost.

Italy began an eight hour general strike Friday at the call of two large unions to protest the rapid pace of economic and social reform introduced by Premier Matteo Renzi.

Pope Francis lamented that investment losses by banks trigger more alarm in the economic crisis than the struggle of people to feed their families, as he led a huge rally on Saturday to invigorate the church's moral conscience, hours after he held talks at the Vatican about the economic crisis with Germany's leader.

Development aid from rich countries to some of the world's poorest fell for a second year in a row in 2012, as big European donor countries hit by years of debt crisis cut their spending.

The euro zone's awkward handling of Cyprus's bailout puts extra pressure on the bloc's downgrade-threatened sovereign ratings and shows policymakers overestimate their ability to contain the crisis, credit agency Moody's said.

Italians head to the polls on Sunday and Monday for their first general election since the ousting of Silvio Berlusconi in a climate of economic crisis and amid fears of fresh political instability.

The countries worst hit by the European financial crisis are also perceived as being among the most corrupt in the European Union, and those perceptions appear to be getting increasingly negative, an international watchdog said in a new report released Wednesday.

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.

In an explosion of red-and-yellow joy, Spanish fans burst into chants of "Champions, Champions!" on Sunday to greet a thumping Euro 2012 win that swept away the clouds of economic crisis.

Addressing parliament in Berlin, Merkel accused top EU officials of putting the cart before the horse by proposing common euro zone debt before EU controls are in place on national budgets and economic policies.

If time is called on the euro one day, austerity fatigue could be the catalyst.

Asian shares slipped Thursday as weak US retail sales data raised concerns about sluggish economic growth