It isn't clear yet whether that will manifest as an actual default or a so-called restructuring where the new loans are made with longer payback times (which is just another type of default.) However, the economy contracted in the fourth quarter of last year, and the outbreak of coronavirus in northern Italy last month has disrupted activity, leading many analysts to forecast a full-year GDP decline for this year. Italy's budget deficit will overshoot the government's 2020 target and public debt will rise in the medium-term as economic growth languishes, the International Monetary Fund said on Wednesday. Capital Economics outlines the three standard ways to get out of indebtedness -- unfortunately, none of them are available to Italy. it would need to expand by 1.3% per year. Government Debt in Italy averaged 732605.87 EUR Million from 1950 until 2020, reaching an all time high of 2578856.20 EUR Million in August of 2020 and a record low of 1320.50 EUR Million in April of 1950. Unfortunately for Italy, the country has no control over inflation because it is part of the eurozone single currency. Yahoo ist Teil von Verizon Media. Italy deficit Latest Breaking News, Pictures, Videos, and Special Reports from The Economic Times. 4/9/19, 4:35 PM CET. MA (Hons) University of St. Andrews, Scotland. In other words, growing fast enough to solve the problem won't happen for Italy. When that happens -- TS Lombard is correct that it is all but guaranteed -- a financial Tsunami will hit stock markets across the world. In the long-term, the Italy Government Debt to GDP is projected to trend around 152.00 percent in 2021 and 148.00 percent in 2022, according to our econometric models. Trump’s Special Twitter Treatment Would End With Biden Win, Irrational Gamblers Fooled Financial Markets on Election Night, Biden Win With Undecided Senate Flips European Market’s Outlook, Berkshire Buys Back $9 Billion More of Stock in Record Year, Covid Outbreak in Mink That Was Dismissed Now Has World Worried. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV. Milan-based think-tank REF estimated on Saturday that the measures taken to rein in the virus's spread, including closing many public venues and events, will cut GDP in the first half of this year by 1% to 3%. Nonetheless, “further bank consolidation is needed”, it said, given the limited scope of Italy’s lenders to increase revenues. Rome is already reliant on the European Central Bank’s emergency bond buying program to keep its borrowing costs down and the situation could get a lot worse. Sign up here for our daily coronavirus newsletter on what you need to know, and subscribe to our Covid-19 podcast for the latest news and analysis. An intersection stands empty under lockdown, in Brescia, Italy. Former staffer for General Motors Treasurer's Office. Italy Sees Deficit at 10.4% as Conte Scrambles to Save Economy By . 25Y. Seasoned market observers may remember the Greek crisis of a decade ago. Unfortunately, experience shows that in Italy's case, such efforts won't work either. Fellow at the Johns Hopkins. The report continues bluntly: The bottom line is that as and when a serious new crisis blows up, the Italian government is positioning itself to demonstrate to its voters that it has not sought to leave the Eurozone, but rather that the Eurozone is leaving Italy. That means all decisions about monetary policy get taken by the European Central Bank (Europe's equivalent of the U.S. Federal Reserve.). All quotes delayed a minimum of 15 minutes. )+[a-z]{2,})$/i, failureMessage: "A valid email address is required"});var dom2 = document.querySelector('#form1783 #field2');var field2 = new LiveValidation(dom2, {validMessage: "", onlyOnBlur: false, wait: 300});field2.add(Validate.Presence, {failureMessage:"This field is required"});var dom11 = document.querySelector('#form1783 #field11');var field11 = new LiveValidation(dom11, {validMessage: "", onlyOnBlur: false, wait: 300});field11.add(Validate.Custom, {against: function(value) {return !value.match(/(telnet|ftp|https?):\/\/(?:[a-z0-9][a-z0-9-]{0,61}[a-z0-9]\.|[a-z0-9]\. aus oder wählen Sie 'Einstellungen verwalten', um weitere Informationen zu erhalten und eine Auswahl zu treffen. All quotes delayed a minimum of 15 minutes. Updated 4/10/19, 2:55 PM CET.
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