Italy and Greece zeroed their fiscal deficits, expect Germany’s response

While the political scenery in Italy and Greece – the two key countries in Eurozone’s fight against sovereign excessive debt – could be termed as critical, their economic prospects do not seem discouraging at all. In this respect Italy gained a positive assessment from the IMF last week. The Fund’s report points to the zeroing […]

EU: Tax evasion and fraud flourish under political protection

It is a disgrace for the European Union’s political elite to consciously block the internal exchange of information between the member states authorities and banks on matters related to tax evasion and fraud. This is exactly what the 27 EU minister of Finance did yesterday in the Ecofin Council in Brussels. This unbelievable political decision […]

Let the Italians have it their way, it may be good for all Eurozone

The large size of the Italian sovereign debt, in the region of €2 trillion and its refinancing torments now the minds of all Eurozone political leaders. The same is true for capital market investors, who showed a remarkable cold-blooded attitude yesterday, after it was certain that no single political party can formulate a viable government […]

Italian voters put again the European Peoples in the Brussels picture

The results of the Italian election reminded everybody that Europe has never been a plain political field and, no matter how hard Brussels and Berlin planners are trying to impose solutions of the Mario Monti type, voters are determined to have it their own way. Italian voters by their last weekend’s choices put again the […]

Italian electoral results to change Eurozone climate and weight on the Cyprus issue

Dr Wolfgang Schäuble, the German Federal Minister of Finance insisted yesterday that Cyprus is not a “systemic” member country of Eurozone. Given that Schäuble expresses authentically and exclusively the paymaster Eurozone and all country bailout programme in the euro area, the plan to save Cyprus from the blunders of its own banks, will be quite […]