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Italy Needs a Growth Renaissance
Keywords:
Italy's major problem is lack of growth, with growth averaging 0.3% in 2001-2010 compared to 1.1% for the eurozone area. In the 1st quarter of 2011 growth was only 0.1%. Italian bonds yield two percentage points above the yield on German bunds. With growth at the present level, Italy's would see an increase in debt to GDP ratios, according to Barclays Capital. Debt to GDP is currently at 119%.
Silvio Berlusconi and Italy
06/11/2011
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Resignations Threaten Italian Coalition
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Dealing a Blow to Berlusconi, an Italian Senate Panel Recommends His Expulsion
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Italy Senate Committee Votes in Favor of Ousting Berlusconi
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Berlusconi Ordered to Stand Trial on Bribery Charges
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Italy’s Berlusconi Convicted in Bribery Case
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Berlusconi's legacy: The cavaliere and the cavallo
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Italy's manufacturing industry
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Italian industry: Clusters flustered
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Italy's economy: The euro's Achilles heel
Economist 04/09/2011
Italy the economy: For ever espresso
Economist 06/11/2011
Italy Business: Renaissance men
Economist 06/11/2011
Italy Needs a Growth Renaissance
Wall Street Journal 06/24/2011
Italy Seeks to Spur Growth, Narrowing Gap With Peers
Wall Street Journal 07/18/2011
Italy- government debt, credit ratings, and borrowing costs 2010-2013
05/14/2010
Italy's borrowing costs went up to 5.7% a week after the July 22, 2011 eurozone debt deal for Greece.
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Return of Long-Term Bond Buyers Seen as Crucial to Europe
New York Times 06/29/2012
Italian Vote Turns in Bonds' Favor
Wall Street Journal 04/23/2013
Italy Urged to Resist a Relapse in Spending
Wall Street Journal 05/03/2013
Wall Street Journal 05/14/2010
Europe Bonds May Offer More Value
Wall Street Journal 08/23/2013
The Key to Italy's Rating Is Kept in Canada
Wall Street Journal 11/02/2013
S&P and sovereign eurozone debt credit ratings
06/24/2011
S&P debt ratings for France, Spain, Italy, Germany, Netherlands and other Eurozone countries.
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S.&P. Downgrade Deals Blow to French Government
New York Times 11/08/2013
Social-Security Woes Vex France's Hollande
Wall Street Journal 11/11/2013
New York Times 11/10/2013
Netherlands Loses Triple-A Rating, Spain Outlook Raised
Wall Street Journal 11/30/2013
What Crisis? Big Ratings Firms Stronger Than Ever
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S.&P. Warns Euro Zone of Ratings Downgrades
New York Times 12/05/2011
Italy's 2013 budget and deficits
05/14/2010
The impact on economic growth of austerity measures.
Grouped Articles
Italy Urged to Resist a Relapse in Spending
Wall Street Journal 05/03/2013
Europe to Vote on Tougher Rules for Currency
New York Times 09/27/2011
Wall Street Journal 05/14/2010
Euro Zone Deficit Hits Target for First Time Since 2008
New York Times 04/23/2014
EU Won’t Reject French, Italian Budgets
Wall Street Journal 10/28/2014
European Union Blinks in Budget Battle With Italy and France
New York Times 10/28/2014
Mario Monti's Labor Minister Elsa Fornero and changes to Italy's labor laws
06/24/2011
Elsa Fornero says Italy is not a place where people follow the rules, and there is a strong tendency to rig the system to tweak it in different places to benefit different groups. The last 10 goverments have failed to tackle the Workers Law put in place after the Second World War, which is out of place in today's economy. Which is why the changes she has made are so significant for Italy to regain its competitiveness and its potential, and modernize its economy. This is also one of the major positive outcomes of the current eurozone crisis. Spain has launched a similiar effort. It involves a culture change which would increase productivity and investment. It also shows that while the Merkel Christian Democrats may need to adjust the austeity programs to promote growth, some of the structural changes pushed in Europe including the formation of the Monti government are finally on the right track.
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New York Times 09/25/2011
Departing EADS Chief Urges Europe to Recommit to Industry
New York Times 04/12/2012
Italy Official Seeks Culture Shift in New Law
Wall Street Journal 06/27/2012
Transcript: Italy's Labor Minister On Reforms
Wall Street Journal 06/26/2012
Italy Approves Labor Law Overhaul
Wall Street Journal 06/27/2012
Avoiding an Italian Bailout Isn't Just About the Numbers
Wall Street Journal 07/12/2012
Deficits as a percentage of GDP for Spain, Italy, Ireland, Portugal and Greece 2011-2013
04/30/2010
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Italy Urged to Resist a Relapse in Spending
Wall Street Journal 05/03/2013
Europe to Vote on Tougher Rules for Currency
New York Times 09/27/2011
Portugal Plans Cuts in Spending
Wall Street Journal 05/30/2013
A Warning Light to Alert the I.M.F.
New York Times 09/21/2011
The Next Global Problem: Portugal
New York Times 04/30/2010
German Optimism Depends On Spanish Deficits
Wall Street Journal 09/25/2013
Competitiveness of Italy- lessons from the experience of Germany with labor-industry and government cooperation 2000-2010
10/28/2006
The "kurzarbeit" program in Germany and lessons for the erurozone.
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The Next First (and Only) 100 Days
New York Times 12/10/2011
Italy’s train wars show the bumpy ride into competition - The Washington Post
Washington Post 10/29/2013
Germany's Secret Economic Weapon: a Vast Export Network
Wall Street Journal 11/19/2013
Bayer: Pressure on Prices Has Bad Side Effects
Wall Street Journal 02/07/2012
Departing EADS Chief Urges Europe to Recommit to Industry
New York Times 04/12/2012
Can Italy Find Its Way? Resistance to Change Means Slow Recovery
Wall Street Journal 04/30/2014
Italy's labor laws and the impact on business activity
06/11/2011
Most businesses remain small fearing the risks of taking on new employees because of labor laws that make it very difficult to layoff employees. The president of a large Italian construction company, Condotte, says it is easier to separate from his wife than layoff an employee in Italy.
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Can Italy Find Its Way? Resistance to Change Means Slow Recovery
Wall Street Journal 04/30/2014
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BusinessWeek 11/16/2011
Italy Plans New Measures to Liberalize Economy
New York Times 01/20/2012
Mario Monti and Italy's Generational Crisis | Foreign Affairs
Foreign Affairs 02/14/2012
Wall Street Journal 02/24/2012
The economy of Italy in the euro-zone crisis of 2010-2014
06/03/2010
Grouped Articles
Italy Urged to Resist a Relapse in Spending
Wall Street Journal 05/03/2013
In Italy, High Payroll Taxes Stand in Way of Recovery
Wall Street Journal 11/18/2013
Italian Economy Stops Contracting
Wall Street Journal 12/10/2013
Can Italy Find Its Way? Resistance to Change Means Slow Recovery
Wall Street Journal 04/30/2014
E.C.B. Plots Strategy for Staving Off Deflation
New York Times 05/26/2014
Italy's Shot of Southern Discomfort
Wall Street Journal 06/03/2010
The economy of Italy- 2010-2015
02/16/2011
Grouped Articles
Italy Urged to Resist a Relapse in Spending
Wall Street Journal 05/03/2013
In Italy, High Payroll Taxes Stand in Way of Recovery
Wall Street Journal 11/18/2013
Italian Economy Stops Contracting
Wall Street Journal 12/10/2013
Can Italy Find Its Way? Resistance to Change Means Slow Recovery
Wall Street Journal 04/30/2014
Sovereign-Wealth Funds Agree to Invest $380 Million in Italian Property
Wall Street Journal 01/06/2016
Fiat's CEO Presses Italy for Changes
Wall Street Journal 02/16/2011
Italy's debt and Italian savers investing in Italian government bonds- a key difference with Spain
05/14/2010
Italy issued 18 billion euros in bonds in October 2012 at 4.74%, with most of the bonds going to Italian savers. The borrowing costs are down significantly. Italian retail investors have net private wealth of over 8 trillion euros and household wealth is 4 times the GDP, one of the highest in Europe, according to the Bank of Italy. This means most of the interest paid remains inside Italy and is available for consumption and spending. This is a key difference with Spain where households are highly indebted after the housing bubble.
Grouped Articles
Italian Vote Turns in Bonds' Favor
Wall Street Journal 04/23/2013
Wall Street Journal 05/14/2010
Euro Strengthens as Fears Fade
Wall Street Journal 01/12/2013
Fate of Euro May Hinge on Italian Savers
New York Times 11/22/2011
Italy's Borrowing Costs Drop Sharply at Auction
New York Times 12/28/2011
A Written Plan Can Help Your Portfolio
Wall Street Journal 05/30/2012
William R. Cline's estimates that show a positive outlook for Spain and Italy's debt and the eurozone by 2020
01/04/2011
Cline is an analyst with a good reputation going back to the Latin American crises of the 1980's. His most recent working paper shows estimates of Spanish and Italian debt that suggest a positive outlook for the long term if the measures taken now to contain debt are continued.
Grouped Articles
Euro Strengthens as Fears Fade
Wall Street Journal 01/12/2013
Spain and Italy Are (Probably) Fine
Wall Street Journal 08/14/2012
France Raises Taxes in Tough Budget
Wall Street Journal 09/28/2012
Beijing Signals Interest in Spain Debt
Wall Street Journal 01/04/2011
Italy Needs a Growth Renaissance
Wall Street Journal 06/24/2011
Italy's lack of investment in human capital, information technology and the weak services sector leading to low productivity growth
06/24/2011
The head of Italy's statistics agency Istat, says Italy's manufacturing sector has performed quite well, but it is only one sixth of the economy. The larger services sector has suffered from a lack of investment in human capital and information technology, and is performing poorly, leading to larger expected declines in GDP than anticipated of 2.4% in 2012. There is a need to steer education in the direction of new job opportunities. This suggests that more than the changes to labor laws and related changes taken by Monti and Fornero will be needed to revive the Italian economy.
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The Next First (and Only) 100 Days
New York Times 12/10/2011
Peterson and Hanushek: The Vital Link of Education and Prosperity
Wall Street Journal 09/11/2013
Italy’s train wars show the bumpy ride into competition - The Washington Post
Washington Post 10/29/2013
Italy: The Nation That Crushes Its Young
New York Times 10/30/2013
In Italy, High Payroll Taxes Stand in Way of Recovery
Wall Street Journal 11/18/2013
Italian Prime Minister to Resign, Clearing Path for Renzi
Wall Street Journal 02/14/2014
The twin problems of lack of growth under austerity plans and overvalued currencies of Italy, Greece, Spain and Portugal
06/24/2011
The twin problems of lack of growth and overvalued currencies under the solutions of austerity plans without debt reduction and a single euro currency create impossible odds for a resolution of the eurozone financial crisis. Germany's insistence on tough austerity measures, European banks delaying restructuring of bad loans similar to the U.S. Brady plan, failure of politicians in Italy and Greece to take early action, and small steps by policymakers, are compounding the effects of the eurozone crisis.
Grouped Articles
German Election Overturns Political Order
Wall Street Journal 09/23/2013
New York Times 11/03/2013
Germany's Surplus Isn't the Problem
Wall Street Journal 11/11/2013
The 'Silent Austerity' in Banking
Wall Street Journal 01/21/2014
Italy Central Banker Is Open to 'Bad Bank'
Wall Street Journal 02/10/2014
Saying No to Austerity, Spain Unveils Tax Cuts
New York Times 06/20/2014
Problems with family run firms that dominate the economies of Italy and Greece
06/24/2011
Before joining the euro Italian firms could use a decline in the value of the lira to compete on price with European and other competitors. The red tape, the length of time it take to enforce contracts, and the labor laws, have acted as disincentives for Italian firms to grow and increase productive use of capital. As a result the Italian economy is falling further behind. Growth of the economy since 2001 was 3%.
Grouped Articles
Gap in Competitiveness Weighs on Europe, Analysts Say
New York Times 01/15/2012
Can Italy Find Its Way? Resistance to Change Means Slow Recovery
Wall Street Journal 04/30/2014
Culture Built on Family Firms Tests Italy's Plan for Growth
Wall Street Journal 11/14/2011
Amid crisis, Italy confronts a culture of tax evasion - The Washington Post
Washington Post 11/25/2011
Wall Street Journal 12/07/2011
BusinessWeek 11/16/2011
Italy's business climate
06/11/2011
Grouped Articles
Italy’s train wars show the bumpy ride into competition - The Washington Post
Washington Post 10/29/2013
Can Italy Find Its Way? Resistance to Change Means Slow Recovery
Wall Street Journal 04/30/2014
Italy Faces a Long List of Barriers to Growth
New York Times 07/28/2011
Italy Cuts Criticized by Unions
Wall Street Journal 08/15/2011
Italy Seeks to Tackle Youth Jobless Problem
Wall Street Journal 08/22/2011
In Italy and America, the Affliction of Comfort
New York Times 09/17/2011
The slow economic growth in Italy and the impact on Italy's debt sustainability
06/24/2011
Linked Articles
Italy Seeks to Spur Growth, Narrowing Gap With Peers
Wall Street Journal 07/18/2011
Italy Needs a Growth Renaissance
Wall Street Journal 06/24/2011
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