Italy
Global equity markets tumble as euro area panic sets in
European sovereign debt crisis escalates as equity markets across the board record big losses
Barroso calls on eurozone to speed up completion of EFSF legislation
European Commission president José Manuel Barroso says member states must accelerate implementation of EFSF reforms as eurozone sovereign debt crisis spreads beyond the periphery
Markets turn to periphery in wake of Greek package
Yields on Spanish and Italian debt edge higher as markets remain uncertain over the wider impact of Greece's bailout on peripheral countries
Bank of Italy – Economic Bulletin (July 2011)
Bank of Italy July 2011 Economic Bulletin says risks from European sovereign debt crisis have spread to Italy
Draghi says sovereign credibility must be earned
Bank of Italy governor Mario Draghi says solvency of euro area countries must be earned by putting public finances in order
Greece inches closer to default status
Fitch downgrades Greece’s long-term credit rating to CCC, one notch above default, in an active week for ratings agencies
European debt concerns spark bond market sell off
European bond markets tumble amid growing concerns over Italy’s ability to tackle its fiscal deficit; uncertainty over Greek rollover adds to market uncertainty
Bank of Italy paper examines Italian labour market adjustments
Bank of Italy study shows Italian firms reduced working hours and employment to address shortfall in demand post-crisis
Berlusconi asks Bini Smaghi to step aside
Italian prime minister acts to ensure French support for Mario Draghi as next head of the European Central Bank
Draghi encouraged by Baffi’s reign at central bank
Bank of Italy governor Mario Draghi draws on experiences of Italian central bank veteran Paolo Baffi
Draghi faces large pay cut
Bank of Italy governor Mario Draghi’s pay would more than halve as next European Central Bank president
S&P places Italy on negative outlook
Standard & Poor's places Italy’s long-term credit rating on negative outlook; analysts say downgrade not expected in near term
Draghi secures German backing for ECB presidency
Angela Merkel offers support for Mario Draghi to become the next president of the European Central Bank; says he is “interesting” and “experienced”
Bini Smaghi favourite to next lead Bank of Italy
Analysts say European Central Bank executive board member Lorenzo Bini Smaghi is strong candidate to lead Bank of Italy should current governor Mario Draghi move to Frankfurt
Italy’s Visco on government reforms
Bank of Italy deputy director-general Ignazio Visco urges government to take necessary steps to reduce public deficit
Ex-Italy governor should face prison, says prosecutor
Italian prosecutor demands three-and-a-half year jail sentence for former Bank of Italy governor Antonio Fazio’s alleged involvement in failed Banca Nazionale del Lavoro takeover
Bini Smaghi on growth benefits of larger bank capital
European Central Bank executive board member Lorenzo Bini Smaghi says higher capital buffers essential to growth objective
Italy’s Draghi warns of expansion in mafia activity
Bank of Italy governor Mario Draghi says presence of mafia organisations in Italy is growing as it looks to take advantage of weakened economy
Italy’s Draghi on new Sifi guidelines
Bank of Italy governor Mario Draghi says prudential guidelines for systemically important financial institutions set to be complete in mid-2011
IMF studies G-7 factors in global business cycles
IMF study examines impact of G-7 indicators in driving global business cycles
S&P downgrades Japan
Standard and Poor's downgrades Japan by one notch to AA– on fears that aging population places greater fiscal burden on Tokyo
ECB paper develops new labour market model
European Central Bank study estimates new monitoring and forecasting model to measure labour market adjustments in Europe
Periphery CDSs break records as sovereign fears continue
Portugal might be next peripheral to seek help, economist warns, as its CDS hits record high.
Irish woes may spread to other PIIGS
European Union action on Ireland’s bank debts points to fears over contagion spreading across peripheral Europe