Italy Financial Crisis

Italy's mafia clans are taking advantage of the coronavirus pandemic to buy favour with poor families facing financial ruin, prosecutors and officials say, and are offering loans and food in what is seen as an age-old recruitment tactic.

EU states that refuse to accept migrants should face financial penalties, French President Emmanuel Macron said Saturday, prompting a furious response from Rome on the eve of an emergency mini-summit in Brussels about the escalating crisis dividing Europe.

Carlo Cottarelli, a former International Monetary Fund director, will face an uphill battle should, as expected, he is tasked with forming a technocrat government for Italy in the midst of a deep political crisis and populist rage at the financial "elite".

An Italian court has allowed motorcycle brand MV Agusta 's new business plant to restructure its debt with creditors and suppliers. The court order in Varese, Italy, may well result in MV Agusta closing its investment deal with the Black Ocean Group, an Anglo-Russian private equity firm. Latest reports speculate that Black Ocean could take over the...

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.

Pope Francis said on Thursday that financial speculation and corruption were keeping millions of people in hunger and the financial crisis could not be used as an alibi for failing to help the poor.

World shares were heading for their worst week since November and gold was nearly at a one-month high on Friday as Cyprus scrambled to avoid a meltdown of its banks and exit from the euro that could upset the whole region.

When the financial crisis began to spread five years ago, British coffee machine-maker Fracino raced to get ahead of it.

When Mariangela Schiena moved to Rome from southern Italy 11 years ago, all she hoped for was a simple life, with a roof over her head and a home where she could start a family.

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...

Spain is under rising pressure to find a lifeline for its deeply troubled banks. As Spain's leaders struggle for a solution to their banking crisis, the country's borrowing costs have soared close to the level that forced the governments of Greece, Portugal and Ireland to seek financial rescues. Experts are worried that the recession-hit country ca...

World leaders backed keeping Greece in the euro zone on Saturday and vowed to take all steps necessary to combat financial turmoil. A summit of the G8 leading industrialized nations came down solidly in favor of a push to balance European austerity - an approach long driven by German Chancellor Angela Merkel - with a new dose of U.S.-style stimulus...

The storm clouds are gathering once again. After a brief reprieve, the global picture is again starting to look nervous reminding us that the ghost of the 2008 financial crisis is still with us. Crucial elections this past weekend in Greece and France have pushed Europe back into uncertain times. A shift of power in Greece, France has raised questi...

The ECB and the Bank of England are preparing to offer more emergency support to the financial sector

Italy's mafia clans are taking advantage of the coronavirus pandemic to buy favour with poor families facing financial ruin, prosecutors and officials say, and are offering loans and food in what is seen as an age-old recruitment tactic.

EU states that refuse to accept migrants should face financial penalties, French President Emmanuel Macron said Saturday, prompting a furious response from Rome on the eve of an emergency mini-summit in Brussels about the escalating crisis dividing Europe.

Carlo Cottarelli, a former International Monetary Fund director, will face an uphill battle should, as expected, he is tasked with forming a technocrat government for Italy in the midst of a deep political crisis and populist rage at the financial "elite".

An Italian court has allowed motorcycle brand MV Agusta 's new business plant to restructure its debt with creditors and suppliers. The court order in Varese, Italy, may well result in MV Agusta closing its investment deal with the Black Ocean Group, an Anglo-Russian private equity firm. Latest reports speculate that Black Ocean could take over the...

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.

Pope Francis said on Thursday that financial speculation and corruption were keeping millions of people in hunger and the financial crisis could not be used as an alibi for failing to help the poor.

World shares were heading for their worst week since November and gold was nearly at a one-month high on Friday as Cyprus scrambled to avoid a meltdown of its banks and exit from the euro that could upset the whole region.

When the financial crisis began to spread five years ago, British coffee machine-maker Fracino raced to get ahead of it.

When Mariangela Schiena moved to Rome from southern Italy 11 years ago, all she hoped for was a simple life, with a roof over her head and a home where she could start a family.

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...

Spain is under rising pressure to find a lifeline for its deeply troubled banks. As Spain's leaders struggle for a solution to their banking crisis, the country's borrowing costs have soared close to the level that forced the governments of Greece, Portugal and Ireland to seek financial rescues. Experts are worried that the recession-hit country ca...

World leaders backed keeping Greece in the euro zone on Saturday and vowed to take all steps necessary to combat financial turmoil. A summit of the G8 leading industrialized nations came down solidly in favor of a push to balance European austerity - an approach long driven by German Chancellor Angela Merkel - with a new dose of U.S.-style stimulus...

The storm clouds are gathering once again. After a brief reprieve, the global picture is again starting to look nervous reminding us that the ghost of the 2008 financial crisis is still with us. Crucial elections this past weekend in Greece and France have pushed Europe back into uncertain times. A shift of power in Greece, France has raised questi...

The ECB and the Bank of England are preparing to offer more emergency support to the financial sector