Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Posts Tagged ‘Italy’

Germany Is Shirking Its EU Responsibilities

Posted by hkarner - 24. November 2019

Date: 23-11-2019
Source: DER SPIEGEL by Dirk Kurbjuweit

Germany used to be passionately pro-European, with the EU facilitating the country’s postwar return to the international community. These days? Not so much. And Berlin’s passivity is becoming dangerous.

German Chancellor Angela Merkel

If the Germans were once the most committed, most passionate Europeans, they are today among the most half-hearted. Despite spending decades after World War II as the greatest beneficiary of the European idea, slowly shedding its pariah status, Germany is now extremely focused on its own interests. Even worse, though, is the fact that German politicians are no longer paying much attention to Europe at all. They are simply letting things take their course, playing catch up or just standing by and watching what happens next. It’s as if they are unable to recognize what is at stake.

A battle is underway in Europe and the U.S. for the future of liberal democracy. In the U.S., that fight is primarily focused on Donald Trump. In Europe, the situation is more multifaceted and less obvious, but no less dangerous. And as the strongest economy on the Continent, Germany should be on the front lines of that fight. Instead, the country is doing nothing to carry its weight, hunkering down in the middle of Europe seemingly with no idea what to do. Den Rest des Beitrags lesen »

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Europe Is Hiring—But Its Workforce Isn’t Ready

Posted by hkarner - 31. Oktober 2019

Date: 30-10-2019
Source: The Wall Street Journal

Businesses ready to pay skilled workers can’t find enough candidates, a ‘top issue’ across the EU

Barbara Colombo sells complex machinery made at her family’s factory to businesses in 126 countries but is still having trouble convincing unemployed young Italians to get skills so they can join the workforce.

Though every third young Italian is jobless, Ms. Colombo’s Ficep SpA and other companies in this thriving industrial region near Milan are struggling to fill well-paying factory jobs. The local vocational school, because of low enrollment, had only 80 graduates when nearby companies asked for about 300 last year, she said.
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Rom verteidigt seine neue Schuldenpolitik

Posted by hkarner - 25. Oktober 2019

Finanzminister Gualtieri will mit expansiven Maßnahmen das Wirtschaftswachstum in Italien ankurbeln, heißt es im Brief nach Brüssel

Erhoffen von der neuen EU-Kommission in Brüssel Verständnis für ihre Wachstumspolitik auf Pump: Premier Guiseppe Conte und sein Finanzminister Roberto Gualtieri.

Rom/Brüssel – Die italienische Regierung von Giuseppe Conte hat mit einem Brief an die EU-Kommission auf die Bedenken Brüssels zu ihrem Haushaltsentwurf geantwortet. „Wir vertrauen darauf, dass unsere Bemühungen in Sachen Haushaltskonsolidierung und strukturelle Reformen zu einer weiteren Defizitsenkung führen werden“, schrieb der italienische Wirtschafts- und Finanzminister Roberto Gualtieri darin.

In dem Schreiben an EU-Wirtschaftskommissar Pierre Moscovici und an Kommissions-Vizepräsident Valdis Dombrovskis, das auszugsweise am Donnerstag veröffentlicht wurde, betonte Gualtieri, dass Italien Einsparungen in der öffentlichen Verwaltung in der Größenordnung von einer Milliarde Euro 2020 und von 1,2 Milliarden Euro in den Jahren 2021 und 2022 plane. Italien bemühe sich auch um eine Vereinfachung des Steuersystems.

Italien verlangt Flexibilität

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Italy sends a sensible budget to Brussels

Posted by hkarner - 18. Oktober 2019

Date: 17-10-2019
Source: The Economist

All much less confrontational now that Matteo Salvini is out of government

Purtroppo, la nostra macchinetta è guasta (“Unfortunately, our little machine is broken”) should feature in Italian phrase books, for it is an expression every shopper in Italy encounters before long. Accompanied by a glance at a supposedly sickly payment terminal, it tells the customer proffering a card that only cash will do.

Measures in Italy’s draft 2020 budget, sent to the European Commission for scrutiny on October 16th, aim to thwart this and other methods of avoiding the traceability—and taxability—of transactions. One would lower the limit for cash payments from €3,000 ($3,300) to €2,000. Another would create a lottery with prizes restricted to credit- and debit-card users. Den Rest des Beitrags lesen »

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Strafzinsen: Immer mehr Banken planen Negativzinsen für Private

Posted by hkarner - 17. Oktober 2019

Als erste Bank in Italien will die Bank-Austria-Mutter Unicredit reiche Privatkunden zur Kassa bitten. In Österreich schützt ein OGH-Urteil Sparer

Leopold Stefan, derstandard.at

Banken zahlen Milliarden an Strafzinsen an die EZB. Immer mehr Institute wollen diese Kosten auf ihre Kunden abwälzen.

Wien/Mailand – Vielen Banken brennt es längst unter den Nägeln. Im September hob die Europäische Zentralbank den Strafzins auf 0,5 Prozent an. Die EZB verlangt von Europas Geldhäusern seit fünf Jahren Zinsen für geparktes Geld. Seither lieferten die Banken über 21 Milliarden Euro in Frankfurt ab, wie eine Auswertung der Plattform Deposit Solutions berechnet. Immer mehr Finanzinstitute wollen diese Kosten in Form von Negativzinsen an ihre Kunden weitergeben.

In den meisten Fällen sind davon Unternehmen betroffen – in Deutschland etwa jedes dritte, wie eine aktuelle Umfrage ergab. Doch auch wohlhabende Privatkunden werden zunehmend zur Kassa gebeten. Nun will als erste Bank in Italien die Bank-Austria-Mutter Unicredit private Spareinlagen mit Negativzinsen belegen. Betroffen sind Kunden mit einem Vermögen von über einer Million Euro. Ähnliche Schritte haben bereits die Berliner Volksbank und die dänische Jyske Bank unternommen. Den Rest des Beitrags lesen »

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Matteo Renzi’s split leaves Italian politics in turmoil again

Posted by hkarner - 19. September 2019

Date: 18-09-2019
Source: The Economist

The former prime minister pledges loyalty to the government—for now

THE SWEARING-IN this month of a government yoking the populist Five Star Movement to the centre-left Democratic Party (PD) was a big relief to investors in Italy’s volatile government debt and to others with a stake in the country’s political stability. Among other things, the new alignment promised to keep the Northern League, a Eurosceptic, nativist party led by Matteo Salvini, out of office until 2023 when the next general election is due.

But on September 17th Italian politics were once more cast into commotion. Matteo Renzi, prime minister for almost three years until December 2016, announced he was leaving the PD to form a separate parliamentary caucus. That appeared to be his first step towards the foundation of a new centrist party along the lines of La République En Marche in France and Ciudadanos in Spain.

Mr Renzi called the incumbent prime minister, Giuseppe Conte, to assure him his nascent group would continue to support the government. And it was soon apparent that a majority of Mr Renzi’s followers in parliament intended to stay in the PD. Until now, he has been able to count on the loyalty of more than half the party’s 111 deputies and 51 senators. Yet only about 20 in the lower house and ten in the upper were reportedly prepared to join him. Pollsters mused that, in an election, Italia Viva (the name of the new grouping) would scrape only 3-8% of the national vote. Den Rest des Beitrags lesen »

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Italy’s Precarious Triumph Over Populism

Posted by hkarner - 15. September 2019

Date: 14-09-2019
Source: Foreign Affairs By Alexander Stille

Reports of Matteo Salvini’s Demise Are Greatly Exaggerated


Matteo Salvini

Last month, Matteo Salvini, leader of Italy’s right-wing populist Lega party, attempted a Machiavellian power move. Hoping to take advantage of his soaring popularity, he brought down his own government, with the clear intention of forcing elections that would return him as Italy’s uncontested strongman. To his own and most Italians’ surprise, his jilted coalition partner, the Five Star Movement, turned around and formed a new government with the center-left Democratic Party (DP), until then the government’s principal opposition.

And so Salvini had transformed what appeared as a moment of historic triumph for the right into a major opportunity for the left. Salvini had committed what the Italians call an autogol, a soccer term for accidentally kicking the ball into your own net.

“The idea of saving our country from a swerve into dangerous populism based on hatred prevailed,” said Nicola Zingaretti, the secretary of the Democratic Party. When the new coalition was announced, many commentators breathed a sigh of relief that Italy had prevented what some feared would be the “Orbanization” of Italy, or the emergence of a far-right government, led by Salvini, that would follow the neo-authoritarian model of Hungarian Prime Minister Viktor Orban.  Den Rest des Beitrags lesen »

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Eight and a half, Carlo De Benedetti from Lilli Gruber: „personal betrayal“, what lies behind the assault on Renzi

Posted by hkarner - 13. September 2019

„The prize of falsehood a Matteo Renzi„. He was very hard with his former pupil,,Carlo De Benedetti and chose Lilli Gruber is Half past eight last Monday to reiterate all his personal disappointment for the former premier. A judgment almost harder than that reserved for Matteo Salvini, That’s all to say. According to Augusto Minzolini, in his background on the Newspaper, Renzi’s reaction would have been furious: „It is difficult to do better than the Engineer when he discarded the ideas of Steve Jobs or when he made Olivetti fail. However, the phrase on Renzi champion of falsehood, could even be querelabile.
„Renzi will decide when to let him die“. De Benedetti to Eight and a half, very violent on the former premier

Always second the newspaper, the De Benedetti-Renzi feud would be a matter of „personal betrayal“. After the legal case and the investigation for insider trading, born from the meeting of the Engineer the then premier in January 2015, a few days before the reform of the popular banks (De Benedetti, from the tip of the premier, earned about 600 thousand euros), Renzi’s decision to bump into the constitutional referendum in 2016 would have definitively cracked relations. Republic and Expressed „considers him the real responsible, with the defeat of the referendum, of the arrival of the barbarians grillini and leaguers at Palazzo Chigi „. Not only that, it was Renzi who reopened the doors to the 5 Stars a month ago, a hypothesis openly opposed precisely by Republic. And it is not a case.

Video: https://www.la7.it/otto-e-mezzo/rivedila7/puntata-del-09092019-conte-2-la-vendetta-09-09-2019-281290

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Amid Italy’s Beauty, a Vista of Decline

Posted by hkarner - 1. September 2019

Date: 31-08-2019
Source: The Wall Street Journal By Gerard Baker

The country’s rich history contrasts with today’s economic and political turmoil.

Vineyards near Montalcino, Italy.

There was a joke that was popular when I was in college. “I had a great summer job this year,” it went. “What was it?” went the reply. “I was prime minister of Italy.”

I didn’t quite get the job this summer, though I did something even better—spending several weeks in the Tuscan countryside, resting, reading and writing. While I was there, on cue, the Italian government collapsed, and this timely juxtaposition of inner serenity and public turmoil prompted a few thoughts about our larger dispensation.

It’s hard to imagine a better place to ponder the arc of our civilization’s history than the rich, hilly lands from Tuscany down to Rome. It’s partly the views—across vine-covered slopes and cypress-studded hilltops to gorgeous honeyed-stone villages—and the long lunches of pasta and red wine that induce a contemplative mood under the relentless sun.

But it’s also the ubiquitous reminders of our historical roots in this fresco landscape. You can make a solid case that the small swath of hilly terrain between Florence and Rome has had more impact on our civilization than any other territory anywhere on Earth. Den Rest des Beitrags lesen »

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Italy’s Progressive Surprise

Posted by hkarner - 31. August 2019

Date: 30-08-2019
Source: The Wall Street Journal By The Editorial Board

The establishment and insurgent left team up to take out Matteo Salvini.


Matteo Salvini in Rome

A week ago Matteo Salvini looked like Italy’s next Prime Minister, but now the League leader is headed for the political wilderness. Italy’s most interesting politician will have to watch as the left tangles with Brussels while trying to revive the economy.

On Wednesday night leaders from the insurgent 5 Star Movement and the establishment Democratic Party announced an agreement to form a center-left coalition. The parties provided few details, though Prime Minister Giuseppe Conte will keep his job. This doesn’t look like a government built for the long-term—but what else is new in Italian politics?

In 2018 Mr. Conte, a lawyer, was plucked from near-obscurity to mediate an unruly coalition between the conservative League and the leftist 5 Star Movement. Imagine if an unknown law professor became U.S. President—with Bernie Sanders and Donald Trump as strong co-vice presidents. Ministers from each party often undermined each other publicly and squabbled over parochial issues like rail projects and basic questions about the role of government. Den Rest des Beitrags lesen »

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