Arab Today, arab today eu put to the test by markets italy to pass
Last Updated : GMT 01:44:12
Arab Today, arab today
Arab Today, arab today

EU put to the test by markets, Italy to pass

Arab Today, arab today

Arab Today, arab today EU put to the test by markets, Italy to pass

Brussels - ANSA

The markets are reacting to Spain\'s ever more dramatic economic situation, a continuing risk that Athens may leave the eurozone, the \'progress reports\' that the EU Commission will be sending out to Italy and other EU partners, the May 31 referendum in Ireland on the ratification of the Fiscal Compact, and the debate over the eurobonds: yet another highly-charged week lies ahead for the eurozone and the EU due to many elements of uncertainty which continue to weigh heavily on their future. On Wednesday the European Commission will be making its \'\'recommendations\'\' to Italy in a sort of progress report in which it will asses what has been done and what remains to be done in order to get the country\'s finances back in order as well as relaunch competitiveness and growth. According to the indications so far, Italy is expected to pass the test. However, Brussels will be recommending that Italy continue firmly in the direction taken, implementing all the decisions made and bringing in new actions to reduce unemployment, especially that affecting the young and women, as well as restore competiveness - which has been pared exceedingly slim. In Brussels\' view, trends seen in the period permitting, no further cuts will be necessary so long as the planned increase in VAT of two percentage points is implemented in October. Meanwhile, over the next few days European institutions - the EU Parliament, Council and Commission - will continue working closely with national chancelleries to select the measures to be taken to relaunch growth and ensure the stability of the eurozone (with eurobonds and the like). The Budget Commission of the European Parliament, in particular, will be voting on the agreement reached with the European Council to bring in a pilot programme in the field of project bonds. All of these of issues which - after Brussels - others will be having their say on, including Italian Prime Minister Mario Monti and ECB governor Mario Draghi. On Thursday Monti will be spending the entire day in the EU capital, first speaking at the Brussels Economic Forum and then at the State of the Union conference. Draghi will be taking part in a public debate on Wednesday afternoon and on Thursday morning he will appear at the Economic Commission meeting within the European Parliament. The spotlight, however, remains especially on Greece and Spain. Athens - while awaiting the June 17 elections, which will determine whether or not it remains in the eurozone - continues to be a strong of great concern. Yesterday fresh speculation came from Greece which gave weight to the bleakest predictions: that at the end of June, lacking further international aid, the country will go into default. Social and political tension is so high that statements by IMF director Christine Lagarde (\'\'Greeks need to start helping each other by paying all taxes\'\') have led to generalised outcry spreading beyond the nation\'s borders. Adding to the criticism of Lagarde by Greek politicians and the shower of protest which flooded her Facebook page was that of the French government. According to the latter, this is no time to \'\'give lessons\'\' to the Greeks by presenting a vision which is \'\'a bit caricatural and stereotyped\'\'. However, in this phase Spain is also filling the eurozone to with dread. The Spanish banking system is extremely fragile and the Bankia case (for the bailout of which Madrid will have to spend a record high 23.5 billion euros) may not be the last to weigh on the coffers of a state which due to devastated public finances is seeing the spread between its ten-year bonds and the German Bund rise relentlessly. How long will Madrid be able to hold out without requesting EU aid? And, last but not least, there is the referendum due to be held in Ireland on May 31 on the ratification of the Budget Pact. Outlooks say that the \'yes\' vote will win, and in any case the pact is structured in such a way that it can come into effect even with only a majority of countries having voted for it. However, a \'no\' vote would lead to Ireland losing EU aid, and would certainly not help the eurozone regain stability.(ANSAmed).

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eu put to the test by markets italy to pass Arab Today, arab today eu put to the test by markets italy to pass

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
Arab Today, arab today Former head of Egypt’s syndicate submits appeal

GMT 20:11 2017 Saturday ,25 March

Former head of Egypt’s syndicate submits appeal
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Haifa Wahby bets on her new drama show

GMT 06:04 2017 Thursday ,23 March

Haifa Wahby bets on her new drama show
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 07:03 2017 Wednesday ,22 March

Merna Waleed praises her work with Soad Hosni

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 15:06 2017 Saturday ,25 March

Dialysis Supplies Dwindle for Syrians

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday