Italy
Why Monti's IMF candidacy withdrawn - report
Italy withdrew EU competition commissioner Mario Monti's candidacy for the post of International Monetary Fund managing director in order to gain French and German support over its deficit problems, Italian daily La Repubblica reported.
Fazio on the international economy and Italy
In a speech on 'The international economy and Italy' given on 14 February Antonio Fazio of the Bank of Italy said Europe is not contributing to the growth of the world economy. A stronger performance on its part is also necessary to adjust the payments…
Italy calls for stability pact revamp
Italy has demanded a revamp of the EU Stability and Growth Pact to devote more attention to nurturing economic growth than curbing deficits.
Economy vulnerable to rate rise says Forum
Following a meeting in Rome, chaired by Fed vice chairman Roger Ferguson, the Financial Stability Forum (FSF) issued a generally upbeat assessment of the global economy but highlighted worries about excessive levels of debt and capital flows to emerging…
Padoa Schioppa gets honorary law degree
Tommaso Padoa Schioppa was due to receive an honorary law degree on Friday 12 March in a ceremony at the University of Bari.
OECD upbeat on prospects for world economy
The Organisation for Economic Co-operation and Development said on Friday 5 March that US economic prospects continue to improve, along with those of all major industrialised economies of the world except Italy.
Fazio faces fraud investigation
Governor Antonio Fazio of the Bank of Italy is under investigation in connection with a probe of alleged fraud in the sale of securities by an Italian bank.
Fazio on the international economy and Italy
In a speech on 'The international economy and Italy' given on 14 February, Antonio Fazio of the Bank of Italy said the recovery of the world economy offers Italy an opportunity to overcome the present phase of uncertainty. Capitalizing on the resources…
Italy's cabinet approves regulatory reform bill
Prime Minister Silvio Berlusconi's cabinet approved a draft law on Tuesday 3 February to reform Italy's financial regulatory system, effectively leaving the Bank of Italy with a veto over banking mergers.
Banking foundation considers Bank of Italy stake
Italy's leading banking foundation could consider taking a stake in the Bank of Italy, according to Giuseppe Guzzetti, chairman of the Cariplo foundation.
Fazio could faces job loss in shake-up
The Italian Government is apparently seeking to vary the appointment terms of the Governor of the Bank of Italy, currently Antonio Fazio, in a move that would force him to step down.
Bank of Italy's Fazio rejects Parmalat blame
The governor of the Bank of Italy on Tuesday 27 January tackled his critics who say he failed to protect investors from the Parmalat scandal,claiming that banks had shown a "serious error of judgement" in their dealings with the food company.
Fazio's address to the Euro-Mediterranean seminar
In his welcoming address to the Eurosystem and Mediterranean Central Banks Euro-Mediterranean seminar, Antonio Fazio said the talents that the central banks have brought to the European system is founded on autonomy and independence, sometimes carefully…
Bank of Italy responds to Parmalat criticism
Italy's central bank mounted a fight back at the weekend following government accusations that it had neglected its regulatory duties and ignored warnings over the Parmalat fraud.
Bank of Italy criticised on Parmalat case
Italian economy minister Giulio Tremonti said on Thursday 15 January that the Bank of Italy had failed to respond to signals that something was wrong at Parmalat, now involved in one of Europe's biggest financial scandals.
Regulatory reform may face delay in Italy
The Italian government is unlikely to debate a regulatory reform bill this week and instead will wait for Parliament to finish an investigation, a minister said.
Italy plans new financial regulator
Italian finance minister Giulio Tremonti has said he wants a new financial regulator which will have authority over whole spectrum of financial services to reduce risks of another Parmalat-type scandal.
Italy withdraws proposal on ECB statutes
EU Presidency holder Italy is reported to have withdrawn a proposal to simplify procedures for changing the ECB's statutes in response to protests from the central bank, according to Boersen-Zeitung. Jean-Claude Trichet wrote to Italian Foreign Minister…
Euro periphery may suffer from pact weakening
The fallout from last week's decisions on the stability and growth pact could impact on the bond markets of countries with less fiscally prudent reputations than Germany and France, according to a report by Reuters. Rating agency Standard & Poor's said…
Italy wants ECB chiefs chosen by majority
Italy, the current holder of the EU presidency, has made a proposal to change the way top officials at the European Central Bank are appointed, Reuters said. A draft compromise circulated to EU member states said the ECB's six top officials should be…
France and Italy lead charge for EU pact change
French Finance Minister Francis Mer said Wednesday the EU should consider revising the stability and growth pact in 2005, Reuters said. While Italian Treasury undersecretary Gianluigi Magri commented "Pact 1 is finished with. We need to change the…
Kick off in Italy
Italy is famous for its football but the Financial Times reported kicks of a different kind last week. Governor of the Bank of Italy Antonio Fazio was said to have instructed one of his bodyguards to "kick him a bit so he goes away" referring to a…
Berlusconi calls for easing of the Stability Pact
Italian Prime Minister Silvio Berlusconi has, according to the EU Observer, said of the EU's Stability and Growth pact that "The 3 percent should not be taken as an absolute value beyond discussion and might be adjusted down by one or two percentage…
Italian economy dips into recession
The Italian statistics agency Istat said gross domestic product in the euro zone's third-largest economy shrank for the second quarter in a row, putting Italy into a recession, according to Reuters.