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Eurozone ministers face defiant Italy on budget

BRUSSELS, Nov 5 — Exasperated eurozone finance ministers are expected to back Brussels in the row over Italy’s budget today, setting the stage for market turmoil not seen since the debt crisis. Eurozone finance ministers are meeting for the…


EU rejects Italian draft budget, setting up standoff with defiant Italy

STRASBOURG, Oct 24 — The European Commission rejected Italy's draft 2019 budget yesterday, saying it brazenly broke EU rules on public spending, and asked Rome to submit a new one within three weeks or face disciplinary action. Italian bond yields…


Japan to pledge 2019 tax hike to address debt mountain, reports say

TOKYO, Oct 14 — Japan will announce tomorrow a sales tax hike in 2019 after repeated delays, reports said today, in an effort to address the nation's huge public debt. The world's third-largest economy has one of the highest debt-to-GDP ratios…


Italy must ‘calm down’ and stop questioning the euro, says Draghi

NUSA DUA, Oct 14 — Italian officials must stop questioning the euro and need to “calm down” in their budget debate as they have already caused damage to firms and households, European Central Bank President Mario Draghi said yesterday. A…


Draghi: Italy must ‘calm down’ and stop questioning the euro

NUSA DUA (Indonesia), Oct 13 ― Italian officials must stop questioning the euro and need to “calm down” in their budget debate as they have already caused damage to firms and households, European Central Bank (ECB) President Mario Draghi said…


Who runs the (economic) world? It might soon be women

NUSA DUA, Oct 12 — Who runs the world? It might soon be women as a crop of female economists join IMF chief Christine Lagarde in top positions at major financial bodies. As the International Monetary Fund and World Bank meet this week in Bali,…


Greek PM vows not to repeat past economic mistakes

STRASBOURG, Sept 11 — Greek Prime Minister Alexis Tsipras vowed today not to repeat the “mistakes and behaviour of the past” that led his country to the brink of financial collapse. Tsipras told the European Parliament that Greece would…


Greece says fiscal success means pension cuts, tax hikes not needed

THESSALONIKI, Sept 9 — Prime Minister Alexis Tsipras, seeking re-election next year, said today that Greece would not need to cut pensions or raise taxes as planned because it was beating the budget targets agreed with its lenders. Tsipras, a…


Former Eurogroup head Dijsselbloem says demands on Greeks were too heavy

AMSTERDAM, Sept 2 — Euro zone countries have asked for too much from the Greek people in return for international bailout loans, former Eurogroup chief Jeroen Dijsselbloem said in an interview on Dutch television yesterday. “On reforms, we have…


Tsipras declares “day of liberation” after Greece leaves bailout

ATHENS, Aug 21 — Prime Minister Alexis Tsipras hailed the end of a “modern-day Odyssey” today after Greece emerged from nine years of bailouts, saying it should never forget the harsh lessons learned under tight financial supervision by its…