Wall Street Italia

Italy challenges the EU with Marshall plan from 82 billion

23 August 2018 by admin

Italy challenges the EU with Marshall plan from 82 billion Report Wall Street Italia
After the collapse of the Morandi Bridge, which resulted in the death of at least 43 people, the Conte government has developed a maxi investment plan from 82 billion to renew Italian infrastructure.
Shortly after the collapse of the A10 viaduct in Genoa, the Minister of the Interior Matteo Salvini, leader of the League, attributed the responsibility for the catastrophe to the austerity policies imposed by the EU.
From there the idea of the yellow-green government was born: invest all the money necessary to ensure the safety of the roads, of the railways, of schools, of hospitals, regardless of the limits of the budget constraints deemed "crazy" by Salvini and other Euro-skeptical representatives of the majority.
At the same time the EU denied any culpability, recalling that the European Commission had actually assigned 2,5 billions of euros in subsidies to Italy between 2014 and the 2020 within the framework of piano Juncker aimed precisely at financing works to improve infrastructure or create new structures.
An investment project from 82 billions of euros

After the tragedy of Genoa the Minister of Finance Giovanni Tria, which so far has shown itself to be relatively accommodating towards Europe, he mentioned the so-called “golden rule” dear to former Prime Minister Gordon Brown and urged the national authorities and his colleagues to put in place an ambitious plan to renew the country's transport system and infrastructure, without dealing with the Italian budget deficit.
By resorting to the golden rule, the government temporarily authorizes itself to exceed budget constraints, but limited to investment expenses. The Italian coalition wants to take back the project of the previous government led by Prime Minister Gentiloni, which he predicted 82 billions of euros of long-term investments.
But the government's strategy for dealing with these huge expenses is not yet known.
Source: http://www.wallstreetitalia.com/italia-sfida-ue-con-piano-marshall-da-82-miliardi/?utm_source=newsletter&utm_medium=email&utm_campaign=Newsletter:+WallStreetItalia&utm_content=23-08-2018+italia-sfida-la-ue-con-piano-marshall-da-82-miliardi+primo-piano

Actuality | World Economy

Alert “Swexit”, Sweden tries to leave the EU

21 June 2018 by admin

Swexit Report Wall Street Italia
Of Alessandra Caparello

From rallies draped with swastikas and swastika tattoos to the Swedish government: This is what the members of the SD aspire to, having thus cleaned up their image by calling themselves not racist but rather social conservatives.
“We believe in social values and try to protect them, for example fromimmigration (…) If populism means being close to people and understanding their needs, then we are populists. But if it means that we don't have an ideology, we're going astray. We have a strong ideology based on two cornerstones: a welfare state with strong national security”.

He has clear ideas Matthias Karlsson, SD group leader in Parliament interviewed by La Stampa in which he indicates his party's moves, i.e. Swexit. Read More

Actuality | World Economy

Draghi: sulla fine del QE "non è detta l'ultima parola"

19 June 2018 by admin

Reporting of Wall Street Italia
Of Alessandra Caparello
Inflation is on the right track but “there is still a need for significant accommodative measures”. Go back to talking about Quantitative easing the number one of the European Central Bank Mario Draghi during his speech at the Sintra Economic Forum in Portugal where his colleagues from the Fed and the Bank of Japan, respectively Jerome Powell and Haruhiko Kuroda.
For Draghi thelast word regarding the end of Qe.

"In the 2017 Eurozone growth was higher than we had expected: growth on annual basis recorded in the fourth quarter was the strongest in a decade. But in the 2018 growth has slowed and, until now, it was lower than our expectations (…) Regarding the ECB's monetary policy, as indicated last week the progress made so far towards a sustained adjustment in inflation has been substantial. The expected end of our net asset purchases in December this year is subject to new macro data confirming the medium-term outlook for inflationinflation. Furthermore, the asset purchase program can always be used if contingent events arise that we cannot see at the moment.".

Draghi underlined how confidence in the return of inflation towards the long-term objective has strengthened significantly over the last few months., but uncertainty permeates theeconomic outlook.

“With long-term inflation expectations well anchored, the underlying strength ofEuropean economy and the continued large degree of monetary accommodation allow us to be confident that inflation will converge towards our objective and that this convergence can be maintained even after a gradual winding down of our program of net asset purchases.".

Therefore, says Draghi, the "monetary policy in the Eurozone must remain patient, persistent and prudent”. Read More

Actuality | National Economy

In the Def stop VAT increase, resources from tax amnesties and spending cuts

13 June 2018 by admin

In the Def stop to VAT increase, resources from tax amnesties and spending cuts Report Wall Street italia
Of Mariangela Tessa

018, Of Mariangela Tessa

Stop the increases in VAT and excise duties and propose the new public finance framework "quickly"., in compliance with the "European commitments on the 2018-2019 balances" but identifying the "priority interventions" in line with the programmatic indications of the speech for trust. This is what we read in the draft majority resolution on Def, which will be in the Chamber on 19 June.
Without interventions, the VAT increase will come into force from January 1st 2019, passing from 22% al 24,2%. According to rumors it is a 'light' version, at the moment the 'favorite', but it is not yet completely excluded that it could be integrated with some programmatic indications.
But how to avoid the VAT increase? According to reports The Republic:

“It's about catching up 12,4 billion to replace the so-called “escape clause” with fresh resources. The measures should be divided into four directions and follow, for now, the traditional trajectory of Italy's economic policy. In addition to spending reviews and cutting tax breaks, two difficult terrains on which many governments have run aground, part of the resources should come from the fight against tax evasion. The new ingredient will be the so-called “fiscal peace”: in fact a re-edition of the scrapping which should concern Irpef, IRES and contributions Inps. The operation, which will affect businesses and families, should be scaled with higher discounts for the lowest levels of tax debts".

Then there is the issue of flexibility on the deficit, raising the bar to 1.5% of Pil compared to the current forecast of 0,8%. Hence the need to address the issue at a European level, probably already in the Eurogroup and in the Ecofin planned on 21 and the 22 in Luxembourg.

As for instead the increase in excise duties (Petrol prices in Italy have reached the point of breaking through 2 euros per liter in some geographical areas) il Codacons has requested urgent intervention by the new M5S and Lega executive, which had declared in the government contract that it wanted to eliminate the anachronistic components of the excise duties on petrol.

“The Government had promised an intervention on the excise duties on fuels, but so far no measures in this regard have been announced – he declared Carlo Rienzi, president of Codacons – . Salvini and Di Maio must intervene urgently because increases and speculation on fuel have negative consequences on the entire national economy. Just think that without the burden of taxes, Italy falls from second to 17th place in Europe due to high diesel prices”.
http://www.wallstreetitalia.com/nel-def-stop-ad-aumento-iva-risorse-da-condoni-fiscali-e-tagli-alle-spese/?utm_source=newsletter&utm_medium=email&utm_campaign=Newsletter:+WallStreetItalia&utm_content=13-06-2018+nel-def-stop-ad-aumento-iva-risorse-da-condoni-fiscali-e-tagli-spese+primo-piano

Actuality | Policy

Lega-M5S government, Here is the contract and list of ministers

17 May 2018 by admin

Salvini Report Wall Street Italia
Of Alessandra Caparello
ROMA (WSI) – More than a draft agreement, for some it is seen as a gauntlet to the European Union capable of sending the financial markets into a tailspin. Let's talk about the contract that Lega e Five Star Movement have developed and which they will soon bring to the attention of the Head of State, thus giving the green light to the new government.
Compared to the version leaked byHuffington Post in the new contract, thorny references disappear, such as the creation of an exit mechanism from the euro and the request to Mario Draghi of the ECB to cancel i 250 billions of debt for Italy.
However, some key points remain that could damage relations with Brussels. Not to mention that the coverage to be found for all these measures will be considerable and the budget constraints do not allow much room for manoeuvre.
Some points of the programmatic design still require some reflection, like them flat tax rates, the proposal to establish a regional Cie, the reform of the prescription, a law on mosques, up to the commitment to suspend executive works and re-discuss the Tav project in its entirety. Read More

Actuality | World Economy

Argentina turns to the IMF and people take to the streets

11 May 2018 by admin

Argentina turns to the IMF and people take to the streets Report Wall Street Italia
Of Alessandra Caparello
A financial debacle that reopens old wounds for Argentines in recent days with the national currency, the weight, under the threat of hyperinflation and a president Mauricio Macri which to save the economy and spare its people from a new financial crisis is asking for help from the International Monetary Fund.
Although the central bank of Argentina has decided for a huge increase in the rates three times since 27 April, issandoli al 40%, the peso continued to collapse and the president had to do resort to International Monetary Fund, looking for a standby agreement for a loan of at least 30 billions of dollars (although other sources even talking about 50 billion). Which means on standby? Which wouldn't be cashed in right away, but used if the situation worsens further. Read More

Actuality | Policy

Elections, Mattarella: it's up to President of the Senate Casellati

18 April 2018 by admin

Elections, Mattarella: it's up to President of the Senate Casellati Report Wall Street Italia
Of Alessandra Caparello
ROMA (WSI) – Italy is in a stalemate situation and after the second round of consultations a response is expected from the President of the Republic, Sergio Mattarella who will have to decide what to do most likely tomorrow.
According to what Corriere della Sera writes today, President Sergio Mattarella will try to entrust an exploratory mandate to one of the two high state offices and the most accredited one would appear to be the President of the Senate Elisabetta Alberti Casellati.

“If it goes like this, she will have to have a studio set up quickly Giustiniani Palaceand prepare a calendar of meetings in an attempt to bring the positions closer together and untangle the knots of an agreement that until last week seemed almost done".

Another option on the table is to give a pre-appointment to one of the two leaders who emerged victorious from the recent elections and the favorite name is that of Matteo Salvini who yesterday engaged in the electoral campaign of Molise and Friuli-Venezia Giulia stated: Read More