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Business 13 Oct 2018 | 12:00 AM

Italy issues a euro dare to Germany... again

THERE Italy goes, threatening to blow up the euro again. The uproar over the budget proposal put forward by the new left-right insurgent government has reignited fears that the eurozone’s third-lar­gest economy is on the path to fiscal ruin and will drag the rest of the currency bloc down with it. It could happen, although not in the way or for the reason you may think.

Business 05 Dec 2011 | 12:00 AM

Italy PM unveils sweeping austerity package

ROME (Reuters) - Prime Minister Mario Monti unveiled a 30-billion-euro ($40.3 billion) package of austerity measures on Sunday, raising taxes and increasing the pension age in a drive to shore up Italy's strained finances and stave off a crisis that threatens to overwhelm the euro zone.

Business 09 Nov 2011 | 12:00 AM

EU eyes bigger rescue fund Pressure on Greece and Italy as they await facility launch next month

BRUSSELS: European finance ministers pledged to roll out a bulked-up rescue fund next month, leaving Greece and Italy on the frontlines until then in the fight against the debt crisis.

Business 15 Nov 2011 | 12:00 AM

Italy seen clearing debt issue but challenges lie ahead

MILAN: Italy should manage to push through a closely watched bond sale, albeit at a record yield of around 6%, as the appointment of an emergency government brings some respite from market pressures that sent funding costs soaring last week.

Business 11 Nov 2011 | 12:00 AM

Italy poised to pass reforms

ROME: Italy's parliament will pass key reforms by Sunday in a bid to halt market mayhem, after which Prime Minister Silvio Berlusconi will step down and talks on a new government will start, officials said.

Business 15 Aug 2011 | 12:00 AM

Italy minister badly weakened

ROME: Economy Minister Giulio Tremonti appears isolated and weak after being forced to hastily draw up Italy's second austerity plan in less than a month under the orders of the European Central Bank (ECB).

Economy 24 Oct 2018 | 7:57 AM

Salvini says Italy won’t change budget, Italians come first

ROME: Italy will not change its 2019 budget, Deputy Prime Minister Matteo Salvini said on Wednesday after the European Commission rejected the government’s fiscal plan and gave it three weeks to present a new one.

Business 06 Dec 2011 | 12:00 AM

Monti unveils austerity plan to save Italy

ROME: Prime Minister Mario Monti, boosted by positive market reaction, takes a 30-billion-euro austerity package to parliament to shore up Italy's strained public finances and help stem a debt crisis threatening to overwhelm the eurozone.

Business 19 Feb 2013 | 12:00 AM

Nestle pulls meals in Italy, Spain as horsemeat scandal grows(update)

PARIS: Swiss giant Nestle has become the latest food company hit by Europe's horsemeat scandal, announcing it is removing two pasta meals from supermarket shelves in Italy and Spain due to contamination.

Business 08 Feb 2013 | 12:00 AM

Bank of Italy gave Monte Paschi US$2.7bil loan in 2011

ROME: The Bank of Italy gave 2 billion euros ($2.71 billion) in emergency funds to struggling Monte dei Paschi bank in 2011 but this was not a secret operation and was perfectly normal, a source at the central bank said on Thursday.