Italy’s central bank governor urges Meloni to heed investors’ debt fears
Financial Times
23-10-08 04:00
Italy's outgoing central bank governor, Ignazio Visco, has called on Prime Minister Giorgia Meloni's government to address investor concerns over the country's high debt levels and weak growth prospects. Visco warned that investors were "insuring themselves" against a spiral of high debt and weak long-term growth. He added that markets were concerned about the long-term potential growth rate of the economy and urged the government to reduce the fiscal deficit and implement growth-boosting reforms.
Sunak’s Controversial Rwanda Deportation Policy Faces UK Top Court Test
Bloomberg
23-10-09 06:07
The UK's policy of deporting asylum seekers to Rwanda is set to be examined by the Supreme Court, in a hearing that could overturn Prime Minister Rishi Sunak's flagship immigration plan. The policy involves flying refugees who arrive in Britain on small boats to Rwanda for processing. The legislation has put arrivals into a legal limbo, with no route to seeking asylum, and the government struggling with a massive backlog of cases that will take years to clear. A ruling against the policy could boost calls from the far right to withdraw from the European Convention on Human Rights.
Italy battles for flexible EU budget rules as bond spreads widen
Reuters
23-10-09 12:52
Italy is seeking more flexible budget rules from its European Union partners as bond spreads widen and concerns grow over potential disciplinary action from Brussels. Italy is particularly concerned about accounting rulings by Eurostat, the EU's statistics arm, which could push up the country's fiscal deficit next year. Italy is proposing various measures to make the EU's fiscal rules as lenient as possible, including favorable treatment of investments and increased defense spending. Italy is also concerned that Eurostat may revise down its deficits for the years when fiscal limits were suspended and increase them when updated fiscal rules return. An unfavorable ruling by Eurostat could make it impossible for Italy to keep its net primary spending growth below the ceiling requested by Brussels for 2024. This could compound market pressure on Italy's debt, which is the second-largest in the euro zone after Greece's. Italy's budget framework for next year has already been met with skepticism from markets.
At least 11 U.S. citizens killed in attack on Israel, Biden says, as Washington risks entanglement in war against Hamas
The Globe and Mail
23-10-10 00:44
President Joe Biden has said that US citizens are likely being held hostage by Hamas following the recent conflict between Israel and Palestine. At least 11 US citizens were killed in the attacks, and an unspecified number are still unaccounted for. Biden pledged to support Israel in the fight and promised help to end the hostage crisis. The US government has already increased military aid to Israel and deployed warships and planes to the region. If US citizens are confirmed to be held hostage, the US government will likely become even more involved in the conflict.
Rishi Sunak pledges to keep British Jews safe amid Israel-Hamas conflict
The Independent
23-10-09 23:01
UK Prime Minister Rishi Sunak has promised to “stop at nothing” to keep the country’s Jewish community safe, as tensions rise following the recent Hamas attacks on Israel. Sunak made the comments at a synagogue in north London, where he expressed solidarity with Israel and reassured the Jewish community in the UK. Sunak later joined US President Joe Biden, French President Emmanuel Macron, German Chancellor Olaf Scholz, and Italian Prime Minister Giorgia Meloni in issuing a joint statement pledging support for Israel and condemning Hamas. Home Secretary Suella Braverman has also called on police chiefs to increase patrols in areas with large Jewish communities amid concerns of antisemitic abuse. The Hamas attacks involved fighters crossing the border into Israel and launching thousands of rockets. The violence has so far claimed the lives of around 900 people in Israel and over 600 in Gaza, with many more reported missing.
Roberto Saviano faces defamation verdict for remark about Giorgia Meloni
Guardian
23-10-12 04:00
Italian anti-mafia author Roberto Saviano is facing a verdict in a criminal defamation trial for calling Prime Minister Giorgia Meloni a “bastard.” Saviano, who has been under police protection since the publication of his book Gomorrah, could face up to three years in prison if found guilty. The case has drawn international attention and criticism of Italy's harsh defamation laws. Pen International, a global writers' association, has expressed solidarity with Saviano and called on Meloni to drop the charges. Defamation is punishable in Italy with prison terms of between six months and three years.
EU becomes ‘real player’ in debt markets but faces investor scepticism
Financial Times
23-10-12 04:00
The EU's debt pile is set to reach €900bn by the end of 2026 as the bloc borrows to fund coronavirus recovery programmes and support for Ukraine, however, investors are finding its bonds less attractive than some of those of individual European countries. The bonds' exclusion from sovereign indices has left investors uncertain over how big the market will be in the future, and the EU's ambitions to be an issuer on a par with individual European countries are being hampered by political reluctance to continue widescale debt issuance beyond 2027.
Tunisia snubs Brussels and returns £52 million sent in aid
Telegraph
23-10-12 18:22
Tunisia has returned €60 million of EU money in a blow to a deal to stop migrant boats crossing the Mediterranean to Italy. Tunisia's president, Kais Saied, said the amount of money was "derisory" and "violates our dignity." The return of the funds undermines an accord signed in July in which the EU agreed to give Tunisia hundreds of millions of euros in aid, trade and investment in return for stopping migrant boats. So far this year, 139,000 migrants have reached Italy, compared with 74,000 registered in the same period last year and 48,000 in 2021.
Italy central bank cuts GDP growth forecast for 2023 and 2024
Reuters
23-10-13 13:03
The Bank of Italy has revised down its growth forecasts for the Italian economy. It now predicts that GDP will grow by 0.7% in 2023 and by 0.8% in 2022, compared to previous forecasts of 1.3% and 0.9% respectively. The central bank cited international and domestic downside risks as reasons for the downgrades, including geopolitical tensions, a weakening Chinese economy, and tighter credit conditions in Italy and the eurozone. The government is set to present a tax-cutting budget for 2024 on Monday. The central bank also forecasted average inflation rates of 6.1% for 2022 and 2.4% for 2024, slightly up from previous projections.
Italian lawmakers debate long-delayed Holocaust Museum revived by far-right-led government
The Toronto Star
23-10-16 18:03
Italian lawmakers have begun a debate on a measure to fund a Holocaust Museum in Rome, on the 80th anniversary of the Nazi roundup of more than 1,200 Roman Jews in the Holocaust. The Shoah Museum project was launched in 2007, but has been delayed by funding issues, a location, and reluctance to highlight the role of Italy’s fascist government as a perpetrator in the Holocaust. President of the Shoah Museum Foundation said the role of Italy must be central to the museum, and expressed gratitude to the government for giving the project renewed impetus.
Museum project renews debate over Italy’s role in Holocaust
The Sydney Morning Herald
23-10-17 07:50
Italian lawmakers are debating a measure to partially fund a Holocaust Museum in Rome, 80 years since the Nazi round-up of over 1,200 Jews in the city. The Shoah Museum project has struggled to secure funding, find a location and to acknowledge the role of Italy’s fascist government. The project was revived by far-right leader Giorgia Meloni and her culture minister, Gennaro Sangiuliano, both of the far-right Brothers of Italy party. The lower house will vote on the measure later this week.
Terrorist who gunned down football fans in Brussels ‘came to Europe illegally by boat’
Telegraph
23-10-18 20:51
Abdelsalem Lassoued, the Tunisian terrorist who killed two Swedish football fans in Brussels, entered Europe illegally after arriving in Italy by boat. He had first reached the EU over a decade ago, moving around the bloc before settling illegally in Brussels. The failure of authorities to apprehend and expel him in the years before the attack has sparked a political debate in Belgium and the EU about the failure to repatriate migrants whose asylum applications are rejected. Lassoued claimed responsibility for the attack and identified himself as a member of ISIS in a video.
Marine Le Pen poses a greater threat than Giorgia Meloni
Economist
23-10-19 12:32
Italian Prime Minister Giorgia Meloni, who has roots in post-war neo-fascism, has not turned out to be the disruptive force some feared, according to The Economist. However, her pragmatic approach may boost French far-right leader Marine Le Pen's chances of winning the country's 2027 presidential election. Le Pen has distanced her party, the National Rally (RN), from its far-right past and has tried to normalise the party. However, geopolitical differences could be the main reason Le Pen poses a greater threat, as she is closer to Russia's Vladimir Putin and has criticised NATO.
Berlusconi family want to ‘burn’ former PM’s collection of erotic art
Telegraph
23-10-19 17:30
The family of former Italian Prime Minister Silvio Berlusconi are considering burning an extensive collection of pornographic paintings that they inherited upon his death. Berlusconi had amassed a collection of 25,000 paintings, many of which were bought from late-night television shopping channels. The family is now deciding whether to keep the best of the paintings and sell or destroy the rest. The collection is stored in a specially rented warehouse near Berlusconi's residence and is said to include explicit artworks and portraits of Napoleon and views of St Peter's Basilica.
Meloni approves Holocaust museum at Mussolini's Rome residence
Telegraph
23-10-19 16:00
The Italian government has given its approval for the construction of a Holocaust museum on the site of Benito Mussolini’s former home. The museum, which will cost €10m ($11.7m), will be located in the grounds of Villa Torlonia, where Mussolini resided from 1925 until his removal in 1943. The museum will be a cube-shaped building with black walls inscribed with the names of Italian Jews who died in the Holocaust. The project had been under discussion for more than 20 years but was finally greenlit by Prime Minister Giorgia Meloni’s government.
The eurozone’s next crisis is already approaching, in Italy
Telegraph
23-10-20 09:00
Italy's budget has sparked concerns over the country's ability to handle its debt burden. Giorgia Meloni, Italy's prime minister, has implemented a budget that delays painful retrenchment until 2026, but economists have warned that this strategy could lead to trouble. Risk spreads on Italian 10-year bonds have spiked to 207 basis points, borrowing costs have hit 5% for the first time since the eurozone debt crisis in 2012, and debt interest is rising faster than nominal GDP. This has put Italy in a vulnerable position as it must roll over old debt and finance new debt equal to 24% of GDP over the next year. The country's debt has already been downgraded by Moody's and it is highly likely that Standard & Poor's will follow suit. The situation is made worse by the fact that Italian lenders hold €483bn of government bonds, mostly Italian debt, and European banks as a whole hold €3.7tn.
Italy PM splits from partner after lewd TV remarks
BBC
23-10-20 11:38
Italian Prime Minister Giorgia Meloni has announced her separation from long-time partner Andrea Giambruno after he made explicit comments off-camera to female colleagues. The couple had been together for nearly 10 years and have a seven-year-old daughter. Giambruno, a TV host, found himself in trouble earlier this week when a satirical TV programme broadcast the off-air comments. Meloni thanked him for the "wonderful years we spent together" but said it was time to end the relationship.
Italy PM Meloni leaves partner after his sexist comments
The Independent
23-10-20 11:36
Italian Prime Minister Giorgia Meloni has announced that she has ended her relationship with her partner, television journalist Andrea Giambruno, who has faced criticism for his sexist comments. Meloni, who leads a right-wing coalition government, stated that she should not be judged based on Giambruno's behavior and that she would no longer answer questions about him. The couple, who have a seven-year-old daughter, had been together for almost 10 years. Giambruno, who hosts a program on a commercial station owned by media group MFE, has recently faced backlash for off-air video excerpts showing him using foul language and making inappropriate advances to a female colleague.
Giorgia Meloni splits from partner after his sexually inappropriate comments
Financial Times
23-10-20 10:57
Italian Prime Minister Giorgia Meloni has ended her 10-year relationship with TV anchor Andrea Giambruno following a controversy over his inappropriate conduct during his programme. Embarrassing footage of Giambruno making vulgar comments to a female colleague was broadcast on national television. Meloni, who leads the right-wing Brothers of Italy party, has previously opposed gay marriage and LGBT couples raising children.
Why Giorgia Meloni is Italy’s answer to Margaret Thatcher
Telegraph
23-10-20 18:00
Giorgia Meloni, the first female prime minister in Italy's history, has split up with her partner, TV journalist Andrea Giambruno, following his making of lascivious off-air comments. Giambruno had previously made controversial comments on rape and climate change, which Meloni had defended. Meloni's personal life has undergone a transformation in the past year, with her going from a figure of hate to an increasingly respected centre of stability. She has become popular among both Right-wing and Left-wing Italians, with 57% of Italians approving of her in a recent poll. European leaders have also appreciated her support of Ukraine and the EU. Meloni was elected last September to form Italy's most conservative government since Mussolini, and is known for her pro-family, anti-LBGT policies. Her government has cut benefits to the employed, introduced tough laws against same-sex parents and NGO rescue ships, and is anti-abortion and euthanasia. Despite this, she has largely maintained the economic framework implemented by her predecessor, Mario Draghi, and has built relationships with centrists such as Emmanuel Macron and Olaf Scholz.
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