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Archivio per il Tag »financial times«

→  novembre 19, 2018

Italy is, according to David Folkerts-Laundau (“Europe must cut a grand bargain with Italy”, FT November 13, 2018), a “frugal country”: and not because of its private savings, but because of its legacy debt predating the euro, and of its long history of primary budget surplus. Is it really?

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→  febbraio 13, 2018

Sir, According to Bill Emmott (“Five Star struggles to be Italy’s agent of change”, February 9), the Five Star Movement is the Italian En Marche. It might be appropriate to recall some of its proposals for the upcoming election.

It wants to repeal the Fornero pension reform, which in 2011 saved Italy, then on the brink of bankruptcy, and reduce the age of retirement; to abolish mandatory vaccination of children; to allow the deficit to rise above 3 per cent of gross domestic product and to abolish commitment to a balanced budget (a constitutional mandate which has never been obeyed). On public debt its “theory” is that it is a macroeconomic problem only because it is denominated in euros: it therefore proposes to redenominate it in lire, placing the Bank of Italy once more under the control of the Treasury, obliging it to buy the debt that would not be financed by the market.

If these policies resemble those of Emmanuel Macron’s movement, your previous reporting on French politics seems less than accurate.

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→  maggio 6, 2016

by Gillian Tett

A few years ago I was at a conference discussing the woes of the single European currency, when a central bank official reached into his pocket and flung a euro note on the table. “That’s what’s wrong with Europe,” he declared, pointing to the crumpled piece of paper. “It’s just windows and bridges!”

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→  aprile 2, 2016

Sir, According to Massimo Mucchetti’s “proposal for Telecom Italia’s network” (Letters, March 29), all the “interested parties”, ie Telecom Italia, Enel and Metroweb, should “contribute their fixed networks” to a “New Company (NC) to be floated on an exchange”. Senator Mucchetti is keen to stress that his proposal is not to nationalise the network. However, he fails to provide further details: the terms and conditions at which the networks will be transferred to the NC and what the NC will charge for the use of network by the “interested parties”.

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→  febbraio 22, 2016

By Franco Debenedetti and C.A.Carnevale Maffè

Sir, The deal for helping Italian banks sell off the huge stock of troubled loans satisfies Brussels, because it is not state aid, and therefore is, as you say, at best a half-baked solution. Instead of the “Italian job”, as Martin Sandbu has described it (Free Lunch, FT.com, January 27), we have proposed the “Great Swap”.

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→  febbraio 15, 2016

To proponents of a cash-free society, the survival of the $100 bill is at best an anachronism, at worst a gift to organised crime. Peter Sands, the former chief executive of UK-based Standard Chartered bank, last week called for the note to be consigned to history, alongside other high-value banknotes beloved of drug barons and kleptocrats. They play little part in the legitimate economy, he argues, but a crucial role in the underground economy.

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