The latest in Southern Europe

Italian budget in home stretch, unions on warpath

2011-12-18T15:00:05Z

ROME (Reuters) - Italy's austerity budget, vital to get Rome's accounts in order and help save the euro from collapse, enters its final stretch this week, with unions still mounting roadblocks to its path.

The 33 billion euro ($43 billion) package of cost cuts and new taxes was pass...

Monti wins vote on Italian austerity package

2011-12-16T09:30:11Z

ROME (Reuters) - Italy's government easily won a confidence vote on its tough austerity package on Friday, the first step in parliamentary approval for sweeping measures aimed at saving the euro zone's third-largest economy from financial disaster.

The Chamber of Deputies app...

China's stone workshops silenced by European crisis

2011-12-09T07:00:24Z

DANGCHENG, China (Reuters) - Mournful ancient Roman lovers, a boy Mozart and half a dozen angels lie in weeds behind the padlocked gates of an abandoned sculpture workshop in Dangcheng town, victims of economic waves rippling across the world to this corner of northern China.

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Italy PM meets unions ahead of crisis plan approval

2011-12-04T05:30:08Z

ROME (Reuters) - Prime Minister Mario Monti met unions on Sunday to build support before the cabinet approves a 20-billion-euro package of austerity measures aimed at shoring up Italy's strained finances and stemming a crisis that threatens to overwhelm the Reuters) - Fiat SpA's five car factories in Italy are all in the red and its profits now driven squarely by U.S. affiliate Chrysler, meaning a further scaling back of its 100-year-old Italian operations -- if not a complete pullout -- now looks increasingly likely.

The compa...

Analysis: Crisis-rent Italy tests Fiat's allegiance

2011-12-02T08:30:35Z

MILAN (Reuters) - Fiat SpA's five car factories in Italy are all in the red and its profits now driven squarely by U.S. affiliate Chrysler, meaning a further scaling back of its 100-year-old Italian operations -- if not a complete pullout -- now looks increasingly likely.

The compa...

Morgan Stanley further cuts Asian growth forecast

2011-11-28T04:30:45Z

Morgan Stanley further slashed its growth forecasts for Asia next year due to increasing risks from the debt crisis in Europe and weakening domestic demand.

Asia excluding Japan is now expected to grow 6.9 percent instead of its previous estimate of 7.3 percent, the US bank...

IMF denies in Italy aid talks

2011-11-28T01:00:09Z

ROME (Reuters) - Italy's prime minister faces a testing week as he seeks to shore up the country's strained public finances, with an IMF mission expected in Rome and market pressure building to a point where outside help may be needed to stem a full-scale debt emergency.

However, an IMF spokespe...

Italy's PM in austerity race, IMF denies in aid talks

2011-11-28T00:30:12Z

However, an IMF spokespe...

Italy's Monti in austerity race as IMF role eyed

2011-11-27T15:30:50Z

ROME (Reuters) - Prime Minister Mario Monti faces a testing week seeking to shore up Italy's strained public finances, with an IMF mission expected in Rome and market pressure building to a point where outside help may be needed to ste...

Struggling to stay above water

2011-11-27T15:30:28Z

WASHINGTON (Reuters) - The world economy is on a slippery slope. The euro zone appears to have tipped into a mild recession and the rest of the global economy is struggling to hold onto firm ground.

China is slowing, Belgium fell in behind model eurozone pupils Italy and Greece on Saturday, its feuding politicians ending 19 months of deadlock with an 11th-hour budget deal that met EU strictures hours after a brutal downgrade.

"There is an agreement," French...

New Italy PM wins confidence vote on tough reform plans

2011-11-17T13:00:20Z

ROME (Reuters) - Italian Prime Minister Mario Monti comfortably won a vote of confidence in his new government on Thursday after promising rigor and fairness in painful reforms to dig the country out of a financial crisis that threatens the entire euro zone.

Outli...

Emergency post-election measures won't save Spain

2011-11-17T09:30:45Z

MADRID (Reuters) - Spain's new government may rush through emergency measures immediately after Sunday's parliamentary election, but unless the euro zone finds a durable systemic solution to its debt crisis, Madrid will still be forced to...

Analysis: Emergency post-election measures won't save Spain

2011-11-17T07:30:27Z

France and Germany clash over ECB crisis role

2011-11-17T03:00:24Z

PARIS/ROME (Reuters) - France and Germany, Europe's two central powers, have stepped up their war of words over whether the European Central Bank should intervene more forcefully ...

Euro zone looks to Italy, Greece moves to ease crisis

2011-11-15T18:00:09Z

ROME/ATHENS (Reuters) - The euro zone looks for some respite on Wednesday, with Italy due to unveil a technocrat-led cabinet and a new Greek coalition expected to win a confidence vote, as Europe battles to prevent its debt woes from dragging down the world econom...

Euro zone barely grows in Q3, downturn seen

2011-11-15T04:30:15Z

BERLIN/PARIS (Reuters) - The euro zone economy grew just 0.2 percent in the third quarter as Germany and France posted solid growth but countries at the sharp end of the ...

Germany, France post solid growth, outlook bleaker

2011-11-15T04:30:10Z

BERLIN/PARIS (Reuters) - The euro zone economy grew just 0.2 percent in the third quarter as Germany and France posted solid growth but countries at the sharp end of the debt crisis f...

New Italian, Greek governments race to limit damage

2011-11-14T04:00:10Z

ROME/ATHENS (Reuters) - Technocrat leaders in Italy and Greece rushed to form governments as they sought to limit the damage from the euro zone debt crisis on Monday, and the euro climbed on relief that a key Italian bond auction drew dec...

Italian vote opens way for Berlusconi resignation

2011-11-12T09:00:12Z

ROME (Reuters) - The Italian parliament gave final approval to a package of economic reforms in a vote on Saturday which clears the way for the resignation of Prime Minister Silvio Berlusconi and the formation of an emergency government.

Berlusconi, who failed to secure a majority in a crucial vote Tuesday, promis...

Italy parliament vote opens way for Berlusconi resignation

2011-11-12T09:00:08Z

Berlusconi, who failed to secure a majority in a crucial vote Tuesday, promis...

IMF chief calls for 'political clarity' in Greece, Italy

2011-11-10T09:30:10Z

The head of the International Monetary Fund called Thursday for greater "political clarity" in Greece and Italy, after talks with Chinese leaders dominated by Europe's worsening debt crisis.

Greece and Italy are grappling with domestic political upheaval brought on by t...

Italian borrowing costs reach breaking point

2011-11-09T05:00:17Z

ROME/LONDON (Reuters) - Italian borrowing costs reached breaking point on Wednesday after Prime Minister Silvio Berlusconi's promise to resign failed to raise optimism about the country's ability to deliver on long-promised economic reforms.

Italian 10-year bond yields shot above the 7 percent level that is widely deemed unsus...

Italy won't need bailout if it sticks to budget plan: Schaeuble

2011-11-07T06:00:15Z

TAMPERE, Finland (Reuters) - German Finance Minister Wolfgang Schaeuble said on Monday that Italy would not need a bailout if it sticks to its budget plans, but he also warned that the France (Reuters) - The euro zone's repeated failure to tackle its debt crisis is catapulting the bloc toward recession, raising the specter of dangerous spillovers to the rest of the world economy.

Whittling down the euro area's mountain of debt was always going to be a long sl...

World awaits Europe's answer to debt crisis

2011-10-25T20:30:13Z

European leaders faced intense pressure on Wednesday to deliver on a promise to resolve the debt crisis at a summit crucial to the world economy as they battled to protect Italy from collapse.

European Union presidents and prime ministers gather for their second summit in three days with markets demanding a watertight deal to defuse fears that the crisis will deteriora...

Fate of Italy clouds Europe make-or-break summit

2011-10-25T19:30:23Z

Europe struggled to finalise a grand deal to end its festering debt crisis Tuesday on the eve of a summit vital to the world economy but clouded by fears of Italy following in the footsteps of bailed-out Greece.

Global markets were lower in cautious trade as investors awaited the summit for a long-awaited game-plan as the

Berlusconi to call Monday cabinet meeting on growth

2011-10-23T15:00:06Z

BRUSSELS (Reuters) - Prime Minister Silvio Berlusconi said he expected to call a cabinet meeting on Monday to discuss measures to boost growth, as Italy comes under mounting pressure from European partners to step up r...

Leaders meet on crunch weekend for European banking

2011-10-08T18:30:12Z

French and German officials were scrambling to put together a compromise agreement on recapitalizing major European ahead of Sunday's meeting between the two countries' leaders.

French President Nicolas Sarkozy meets German Chancellor Angela Merkel in Berlin on ...

Merkel tells Europe to prop up its banks

2011-10-06T03:30:14Z

Germany called on its EU partners to recapitalise the banking sector to help prevent the eurozone debt crisis spreading as the IMF warned the European Union to get its act together.

Chancellor Angela Merkel said helping the banks was "justified, if we have a ...

As Europe bank recap talk builds, who needs it?

2011-10-05T10:00:12Z

LONDON (Reuters) - Banks in France, Italy and across Europe are under renewed scrutiny for signs they will follow Dexia and need state help as policymakers talk up the need to raise capital to halt a Reuters) - Italy's lower house of parliament is expected to approve the center-right government's much revised austerity plan on Wednesday as Rome struggles to stem a financial market crisis now threatening the whole euro zone.

Some $4 trillion wiped off world stocks in 2 weeks

2011-08-11T06:30:14Z

LONDON (Reuters) - Some $4 trillion has been wiped off the value of world stocks this month on concerns the euro zone debt crisis is spreading to Italy and Spain and hurting Europe<...

Debt crisis bites despite global leaders' efforts

2011-08-09T05:03:45Z

Battered markets tumbled further Tuesday despite world leaders vowing to bolster financial stability, with Barack Obama defending US credit and the European Central Bank trying to stem a debt crisis.

Finance ministers and central bankers from the Group of 20 industrialised and eme...

Obama speaks with Spanish, Italy leaders on eurozone

2011-08-08T16:00:23Z

WASHINGTON (Reuters) - President Barack Obama on Monday welcomed measures by Spain and Italy aimed at addressing their economic crisis, the White House said.

EU rescue fund can be added to if need be-French finmin

2011-08-08T01:30:16Z

PARIS (Reuters) - European governments will increase the size of the EU's emergency rescue fund (EFSF) if need be and are determined to follow through on a plan to contain a debt crisis, French Finance Minister Francois Baroin said on Monday.

All governments ...

Berlin, Paris stress commitment to European reforms

2011-08-07T12:00:51Z

BERLIN/PARIS, Aug 7 (Reuters) - Germany and France on Sunday reiterated their commitment to implementing the decisions of last month's emergency EU summit, in a...

Markets face fresh chaos, analysts say

2011-08-06T10:30:11Z

World equities, fresh from their worst week since the 2008 global financial crisis on eurozone debt fears, face more turmoil after Washington lost its AAA rating, analysts said Saturday.

Standard & Poor's cut the rating to AA+ with a negative outlook, saying US politicians were increasingly unable to come to grips with the country's huge fiscal deficit an...

Global markets plunge on recession fears

2011-08-04T19:30:23Z

Stock markets worldwide plunged on Thursday amid fears of a new global economic downturn, with Wall Street suffering its worst day since the financial crisis.

Mounting worries over the eurozone debt crisis and a new batch of weak economic data from the United States did a one-two punch to hammer i...

Italy Senate gives austerity budget first nod

2011-07-15T09:31:51Z

ROME (Reuters) - Italy's austerity budget passed its first parliamentary hurdle Thursday but the opposition says Prime Minister Silvio Berlusconi's government is in a shambles and should resign after it is finally approved.

The four-year package, which has bee...

Award-winning Greek director to shoot economic crisis

2011-06-01T14:30:30Z

Greece's best-known director Theo Angelopoulos says his next film will be devoted to the economic crisis rocking his country.

"I am preparing a film themed on the Greek crisis, entitled 'The Other Sea'," Angelopoulos told reporters in Italy, according to statements reprinted in the semi-state Athens News Agency

Two million young Italians not studying nor working

2011-01-19T06:30:49Z

ROME (Reuters) - One in five young Italians, or more than 2 million people, are not studying nor working, the highest percentage of "idle" youths in the European Union, the national statistics office said on Wednesday.

ISTAT said that 21.2 percent of Italians aged 15 to 29 were in a statistical group known as NEET -- No...

Benito Mussolini: Italian Fascist, His Racial Laws, and Ultimate Downfall Part 3: Economic Stimulus

2010-11-02T18:36:49Z

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Special report: Is there power in Europe's unions?

2010-09-27T07:15:16Z

OVIEDO, Spain/MODENA, Italy (Reuters) - Union power runs deep in the northern Spanish province of Asturias. A series of strikes against right-wing dictator General Francisco Franco...

Europe's Debt Crisis Continues to Simmer

2010-09-17T07:07:23Z

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A picture of Italian Eyeglasses Business

2010-10-14T11:49:56Z

Italian eyeglasses Industry has a high place in the world. Italy is the biggest country that produces and exports top grade eyeglasses. The export amount takes 26% of the total export amount in the world. Italian eyeglasses, for their most advanced designations and manufacture crafts, represent the trend of fashion all over the world. A great amount of famous eyeglass brands, like Versace, Emporio Armani, Fendi and Dolce&Gabbana, etc., are originated in Italy. Due to the rapid development...

Libyan cash may help Italian town beat recession

2010-08-27T05:00:28Z

ANTRODOCO, Italy (Reuters) - Like countless other small towns across Italy suffering from the economic downturn, Antrodoco has long prayed for an investor with deep pockets to help revive its fortunes.

For a town in the shadow of a mountain where a pine grove spells out "DUX" -- for 20th century fascist dictator Beni...

Euro Outlook: Bullish in the Medium Term

2010-11-02T12:07:47Z

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Coffee in Taiwan

2010-09-09T20:41:47Z

Coffee in Taiwan

Coffee in Taiwan market report offers a comprehensive guide to the size and shape of the market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strate...

Finally Markets Care About Sovereign Debt

2010-11-02T12:05:47Z

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Chart of the Day: Exposures to Greece, Ireland, Portugal and Spain

2010-10-27T09:39:20Z

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Country-by-country look at Europe's debt crisis

2010-05-31T08:31:23Z

Country-by-country look at Europe's government debt crisis

Europe's governments are struggling to deal with a mountain of debt made worse by the past three years of global financial and economic turmoil.

Here are thumbnail sketches of how some of the countries involved are faring — and what they're doing to escape the crisis.

ITALY:

2009 debt: 115.8 percent of gross domestic product

Deficit:...

Europe's Debt Solutions May Be Superior

2010-10-27T08:53:57Z

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European ETFs: Winners and Losers

2010-10-27T06:37:20Z

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Creditors, Not Sovereign Debtors, Are Bailed Out

2010-10-27T07:43:45Z

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Gold Heats Up as Athens Burns

2010-10-27T06:35:15Z

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The PIIGS: A Gold Standard Crisis

2010-10-25T06:59:50Z

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Survey Puts Italy First for Packaged Travel in 2009

2010-11-02T13:00:21Z

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Comment

2010-11-02T13:00:21Z

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Italy officially exits recession

2010-04-16T08:30:50Z

Industry and services helped Italy pull out of recession with third-quarter gross domestic product growth of 0.6 percent, the national statistical institute said on Thursday.

The gain follows five quarters running of contraction and is slightly higher than the eurozone average of 0.4 percent, Istat noted.

The agency confirmed a first estimate issued last month that closely echoed econo...

Paul Krugman Thinks More Federal Debt Is Just Fine and Dandy

2010-10-22T07:31:35Z

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Philip Morris International, Inc. Q3 2009 Earnings Call Transcript

2010-10-22T07:30:47Z

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Across Europe, the embattled left loses its clout

2010-04-16T10:00:24Z

Europe's left flounders as conservatives co-opt the socialist agenda

Pity Europe's Socialists. It's getting lonely on the left.

Just when you might think capitalism's global crisis would breathe new life into the left, it's looking increasingly divided and tired. German Chancellor Angela Merkel's re-election a week ago is highlighting a conservative surge in...

The Future of Cooking and Dining Out

2010-09-10T10:56:26Z

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Perils of a Two Track European Economy

2010-10-22T07:23:59Z

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23 films to vie for Golden Lion award

2010-04-16T11:05:05Z

Michael Moore, Tom Ford in the competition at Venice Film Festival

Michael Moore's examination of the world's economic crisis and the directorial debut of former Gucci designer Tom Ford are among 23 films vying for the Golden Lion...

Iceland's Devaluation Succeeds: So What?

2010-10-22T07:19:31Z

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Chaotic start to Berlusconi's G8 summit

2010-10-22T07:53:05Z

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Gordon Brown flies to G8 leaders summit

2010-10-22T07:53:05Z

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World awaits recovery as G8 finance chiefs meet

2010-06-12T11:07:22Z

Finance ministers from the G8 leading world powers meet for talks in Italy on Friday as populations hit by the worst economic crisis in decades wait for firm evidence of an upcoming recovery.

The International Monetary Fund is forecasting faster-than-expected global growth of 2.4 percent in 2010, the ancient Colosseum, in Rome, Italy, Tuesday, Jan. 4, 2011.(AP Photo/Andrew Medichini)

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Greece Explosion

2010-12-30T06:01:31Z

A firefighter looks on at the damaged court administration buildings after a motorcycle bomb explosion in Athens, Thursday, Dec. 30, 2010. The attack, which caused extensive damage but no injuries, follows a spate or parcel bombings by Greek militants last month and related attacks in Italy. (AP Photo/Petros Giannakouris)

Copyright 2010 Italy's Christof Innerhofer celebrates at the finish area after finishing third in an alpine ski World Cup men's downhill race, in Bormio, Italy, Wednesday, Dec. 29, 2010. (AP Photo/Armando Trovati)

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Italy Embassy Blasts

2010-12-28T05:01:12Z

A Carabinieri car is parked in front of the Danish Embassy in Rome, Monday, Dec. 27, 2010. A package bomb was found at the Greek Embassy in Rome on Monday, four days af...

Hornets Timberwolves Basketball

2010-12-27T20:01:27Z

New Orleans Hornets' Marco Belinelli, left, of Italy and Minnesota Timberwolves' Wesley Johnson race for the loose ball in the first half of an