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Jun
24th
Thu
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The euro may fall as much as 28 percent if France fails to repay investors, while a default by the Spanish government would trigger a 20 percent currency devaluation, Italy a 17 percent drop and Germany a 25 percent decline, according to Citigroup.
Tags: euro   finance   government debt   italy   france   germany   spain   europe  
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Jun
1st
Tue
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A €1.5 Trillion Portfolio Of European Periphery Debt

Managing that portfolio is Maria Cannata’s job, the public officer in charge of selling Italian government bonds on the market.

Possible reasons for optimism on Italian treasuries:

  • A woman is in charge of selling our bonds, Maria Cannata
  • Italian Treasury has €25 billion in cash deposited in a bank account
  • Average maturity of debt is 7.1 years

Let’s hope for the best, June and August 2010 are the worst months in terms of redemption of Italian government bonds, with over €45 billion coming due.

Tags: italy   government debt   bonds  
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May
24th
Mon
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Tags: government debt   deficit   economics   UK   US   Japan   France   Germany   Canada   Italy  
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May
15th
Sat
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Why Italy could even say “our debt, your problem”. We have a primary surplus!

Why Italy could even say “our debt, your problem”. We have a primary surplus!

Tags: italy   government debt   economics  
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May
9th
Sun
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When Italian bonds come due, a little front-loaded … via The European Crisis In Eight Simple Charts | zero hedge

When Italian bonds come due, a little front-loaded … via The European Crisis In Eight Simple Charts | zero hedge

Tags: italy   government debt   bonds   finance  
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May
8th
Sat
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Tags: italy   greece   portugal   spain   PIGS   government debt   finance   bonds  
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May
2nd
Sun
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Some Optimism On Italy’s Debt

After reading Citigroup Global Market Report “Sovereign Debt Problems in Advanced Industrial countries” and the BIS working paper “The future of public debt: prospects and implications (pdf)”, I feel a little better about Italy, mostly because we have a primary (i.e. before interests) budget surplus, we didn’t overspend in stimulus programs and age-related government spending has been in part already reformed (see image below).

Finally, if worse comes to worse, a primary budget surplus also means that Italy does not need to tap capital markets after a unilateral default on the debt mountain.

Tags: italy   US   UK   Europe   government debt   BIS   economics  
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Apr
24th
Sat
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Tags: finance   italy   banks   greece   portual   spain  
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Apr
16th
Fri
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Greece’s (and Italy’s) addiction to corruption is undermining the credibility of the whole Eurozone.

Greece’s (and Italy’s) addiction to corruption is undermining the credibility of the whole Eurozone.

Tags: economics   corruption   greece   italy   europe   euro  
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Apr
15th
Thu
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Tags: europe   piigs   greece   portugal   italy   ireland   spain   economics   finance   government debt  
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