Italian bank Monte dei Paschi di Siena has received a draft-letter from the ECB setting out instructions to reduce its exposure to bad loans. The Italian bank has been given until 8 July to present its arguments to Frankfurt. Read the press release of Monte dei Paschi di Siena confirming the letter here. On the […]Read More..
News & Comments
We welcome short entries about relevant European or national developments for this News and Comments section. You are invited to use the contact form for this or to directly contact Thomas Beukers (firstname.lastname@example.org) or Viorica Vita (email@example.com).
The European Commission has asked several euro area member states for clarification on their draft budgetary plans for 2017, relating to issues such as reassurances on the behaviour of incoming governments, clarification on demands for flexibility, compliance risks with the Stability and Growth Pact (SGP). All member states apart from Greece presented their plans in accordance with article 6(1) […]Read More..
Read the extensive comment on the recent Italian Constitutional Court Decision on pension cuts (Judgment 70/2015) in the Italian Journal Amministrazione e Contabilita (in Italian only). The comment is written by Gabriele Pepe, researcher in Administrative Law at Guglielmo Marconi University, and entitled "Necessita di un'adeguata motivazione della legge restrittivamente incidente nella sfera guiridica dei […]Read More..
Link: http://www.cortecostituzionale.it/schedaUltimoDeposito.do;jsessionid=4AAEF7D7EC33E6839EEBC97021B33FC1 On the brink of economic meltdown in 2011, the Monti government established a number of policies to reduce spending and reset the economy (the so-called Salva Italia package); one of these affected pension payments. In brief, the measure meant that those receiving a pension three times above the minimum (so those earning […]Read More..
In an op-ed in Italian newspaper La Repubblica Italian Prime Minister Matteo Renzi argues that the problem of the euro area is not the lack of a treasury superminister for the euro area, nor the rules of the SGP themselves. The problem lies in the economic politics of Europe which is based too much on […]Read More..
Privatising state intervention for financial stability: the Italian case – by Agnieszka Smolenska (EUI)February 13, 2016
Agnieszka Smolenska is a PhD Researcher at the EUI studying the application of state aid rules to banks from 2007 in the context of the emerging frameworks for EU and Eurozone financial regulation and supervision On 10 February Italy passed a series of laws intended to improve the soundness and stability of its banks (Misure […]Read More..
On Monday 22 February Italy presented a government paper on a "Shared European Policy Strategy for Growth, Jobs, and Stability". On the long term EMU the paper states: "To make the monetary union really irreversible we must manage our European common house by adopting a systemic, common vision. A stronger monetary union needs strong common […]Read More..
Amidst talks between Brussels and Rome about possible recapitalisation of the Italian banking sector, suffering from a high burden of non-performing loans and the impact of the UK referendum on Brexit, as well as the application of European state aid rules, the IMF has published its 2016 Article IV consultation on Italy. Read the full […]Read More..