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Investors jump ship as Europe faces perfect storm (Interview with F Canepa, S&P)

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After two volatile weeks, European bourses are back to the depressed levels recorded before the approval of an international aid package for Greece. Measures taken by the EU-IMF to rescue the Mediterranean country have failed to reassure investors. Moreworryingly still, the crisis exposed a lack of cohesion among European countries. As more clouds gather on […]

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Quale manovra?

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Dopo l’iniziale euforia seguita all’annuncio del piano Europeo – FMI, un salvagente da 750 miliardi per difendere il debito dei paesi della zona dell’euro che ne avessero necessità, le borse europee appaiono ancora in caduta libera, e l’euro continua a indebolirsi rispetto al dollaro. Che cosa sta succedendo? Succede che i mercati hanno (tardivamente) acceso […]

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Aiutare la Grecia a salvare se stessa

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Venerdì 23 aprile il governo greco ha richiesto a Fondo Monetario e Unione Europea di attivare gli aiuti concordati, circa 45 miliardi di euro (15 dal Fondo e 30 dall’UE). La richiesta è giunta il giorno successivo al declassamento del debito greco (da A3 ad A2) da parte dell’agenzia di rating Moody’s (con elevata probabilità, […]

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Italy’s Looming Political Crisis: Dancing Under the (Debt) Volcano

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I have argued recently ( here) that the victory of the Berlusconi’s coalition in the March regional elections was a “Pyrrhus” victory. Mr Berlusconi’s People of Freedom party (PdL) lost votes to its main ally, the Northern League, and weakened considerably in the productive North. It did well in the South, however, where the League […]

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The Debt Implications of Berlusconi’s “Pyrrhic” Victory

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In many ways the recent Italian regional elections have been a success for ther centre-right government of Mr Berlusconi, apparently confirming the inoxidable popularity of the media-tycoon-turned politician, who has successfully survived recent corruption scandals (for the reconstruction of eathquake-stricken L’Aquila), sex scandals (the parties with prostitutes), the disclosed attempts to shut off a popular […]

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