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Italy Agrees to Allow I.M.F. to Monitor Its Progress on Debt

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A decision reached at the G-2- meeting in Cannes requires Italy to allow the IMF to look at its books every 3 months to ensure that a $75 billion austerity package is being implemented. This comes as the general feeling is that prime minister Berlusconi's government lacks credibility on this issue. Chancellor Merkel of Germany disclosed that China and Russia do not want to commit funds to the rescue effort unless there is some assurance - such as the IMF overseeing the EFSF financing facility- that there will be no losses. Japanese government spokesman said Japan was also concerned about losses, especially if the EU would use the money to prop up insolvent banks. This comes as Italy's borrowing costs have increased to new highs in November 2011.

The IMF and Italy

11/04/2011

Grouped Articles

Italy Agrees to Allow I.M.F. to Monitor Its Progress on Debt

New York Times 11/04/2011

Ailing Italy Accepts IMF Monitoring

Wall Street Journal 11/05/2011

Exit From Italian Debt Spurs Fears

Wall Street Journal 11/09/2011

Austerity Debate a Matter of Degree

Wall Street Journal 02/17/2012

Italy faces another year of recession as capital drains - The Washington Post

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IMF in the Eurozone financial crisis of 2010-2012

03/03/2010

Aid package to Greece and funds for other eurozone countries. The IMF's involvement in protecting the eurozone.

Grouped Articles

A Warning Light to Alert the I.M.F.

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EU Dismisses IMF's Criticism On Greek Bailout

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Policy ‘Troika’ for Europe Financial Woes at Odds

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Europe's Original Sin

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Greece Can Learn IMF Austerity from Turkey

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Past Rifts Over Greece Cloud Talks on Rescue

Wall Street Journal 10/07/2013

China's policy of continued support for Spain's sovereign government debt and other European debt

01/04/2011

China is wary of the impact on its largest export market of a fall in the euro as a result of a eurozone crisis in Spain and Portugal. China plans to buy a significant portion of Spain's debt issuance of 200 billion euros in 2011.

Grouped Articles

Japan's Stimulus Generates Ripples

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EU Aims to Seal Deal With Beijing

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Spain Pegs Cajas' Possible Problem Debt

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Europe's Banking Blindfolds

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Spain Takes Turn in Debt Spotlight

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China Hopes Its Bond Buys Will Help Shore Up Europe

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Italy, Spain and austerity measures- 2011-2013

08/08/2011

Analysts point to the austerity measures adopted by Italy and Spain much earlier than other countries in the eurozone. The risk now is cutting into muscle as growth for 2011 is expected to be below 1% in both countries. Italy say analysts is actually in surplus when the interest on debt is excluded.

Grouped Articles

Italy Urged to Resist a Relapse in Spending

Wall Street Journal 05/03/2013

Still Sputtering, Spain Turns Away From Cuts

Wall Street Journal 05/12/2013

German Election Overturns Political Order

Wall Street Journal 09/23/2013

Those Depressing Germans

New York Times 11/03/2013

Saying No to Austerity, Spain Unveils Tax Cuts

New York Times 06/20/2014

European Finance Ministers Support Investment Program

New York Times 09/14/2014


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