The ABI reports that the data just published by the European Central Bank indicates that in 2023 in Italy the amount of renegotiated mortgages increased significantly (extensions, changes from variable to fixed, revision of the interest rate), to mitigate the impacts of the increase in interest rates on the amount of variable rate mortgage installments. In fact, in the first nine […]
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If Italian banks applied the same interest on current account deposits as in 2008, the year in which the ECB reference rate was the same as today [At the meeting of 14 September last, the Governing Council of the ECB raised the main refinancing rate at 4,50 percent. This decision will come into […]
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The European Central Bank (ECB) is continuing with determination in its activities aimed at defining the characteristics for designing the digital euro. And this in view of a possible issue decision that the Board of Governors could adopt. Banks in Italy are actively involved in the project, also with innovative services, based on the programmability of payments, [...]
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Lagarde: "Although the containment measures at CoViD-19 will not lead to total lockdowns, they will have an impact on the economic recovery". (by Massimiliano D'Elia) During the Cco Summit organized by the Wall Street Journal, the president of the ECB Christine Lagarde said: “we are prepared to use all the tools at our disposal that are more effective”. The [...]
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ECB President Christine Lagarde spoke yesterday at today's European Council: "The ECB has done its part in fighting the coronavirus crisis so far, and claims to have done so successfully". Now it's up to Europe with EU instruments such as the Recovery and Resilience Fund which to reach its potential must be [...]
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(by Massimiliano D'Elia) Italy out of the G7? No longer a bugbear but perhaps a sad reality. The news was revealed yesterday by Luigi Bisignani in La Stampa, which highlights the existence of a "strictly confidential" note that runs among the representatives of the Italian desk of the ECB. The document describes the Italian economic situation [...]
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(by Massimiliano D'Elia) The EU Commission with the proposal of the Recovery Fund has put a total of 3.000 billion on the table of growth of the old continent: 1.100 billion made available in the next multi-year budget 2021-2027, 240 billion of the line health credit of the Mes, 200 billion in loans for small and medium-sized enterprises [...]
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(by Massimiliano D'Elia) Late yesterday evening the president of the Eurogroup Mario Centeno showed his appreciation, in reference to the speed of the timing and the amount of funding made available to counter the economic emergency: "I want to specify that the new lines of credit will not entail particular stigma, they are available to all countries in the euro area, [...]
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(by Massimiliano D'Elia) Yesterday a letter signed by the vice president, Valdis Dombrovskis, and the commissioner for economic affairs, Paolo Gentiloni, was sent to the president of the Eurogroup Mario Centeno. Today there will be the videoconference of the finance ministers of the eurozone. The letter pointed out that as regards the funds of the Mes (2 percent of GDP [...]
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The German Constitutional Court declared the purchases of government bonds by the European central bank partially illegitimate. The ECB, coldly replied: "We take note". The German ruling of the Karlsruhe Court is a boulder weighing on the ECB, but also on the European Court of Justice. The German judges want to stem, [...]
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(by Massimiliano D'Elia) The 27 heads of state and government agree only on one front: to implement greater coordination on the health aspects of the emergency. On the rest they remain separated in a house made of cardboard and without foundations. Yesterday, for the first time, the summit of the 27 heads of state and government took place [...]
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More than 7 million views in 48 hours on social networks. On Facebook 6.7 million, 163 thousand likes and 44 thousand comments with over 142 thousand shares. These are the numbers of Giorgia Meloni's live broadcast entitled “A perfect storm against Italy: my“ j'accuse ”against Germany and France“. During his live speech [...]
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The President of ABI, Antonio Patuelli, and the General Manager, Giovanni Sabatini, today sent a letter to the President of the ECB, Mario Draghi, and to the Governor of the Bank of Italy, Ignazio Visco, with reflections on policy choices monetary policy that the Governing Council of the ECB is preparing to assume. The letter states that the Association [...]
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Laura Naka Antonelli on FOL highlighted the issue of German Bunds valued at 850 billion dollars, which could offer zero returns. This is the result of the zero interest rate era, caused by the expansive monetary policy of the ECB, which increasingly characterizes the government bond market of the Eurozone countries [...]
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“I want to find that money now. #Conte and #Tria provide in some way ”, so Matteo #Salvini made his debut yesterday, while talking about the credits that the companies have left over from the Public Administration. (by Massimiliano D'Elia) The dry No to #minibot came directly from the Minister of Economy Giovanni Tria, from the president of the ECB, Mario [...]
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Francois Villeroy de Galhau, parliamentarian of the ECB, in an interview published and taken up by "Reuters", stated that the timing for the European Central Bank's rate hike after the crisis depends on the fact that the current slowdown in the euro zone is a blip or a longer slowdown. The ECB has stated that it intends [...]
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The Bank of Italy certified the Italian public debt for the year 2018: it rose by 53,2 billion to 2.316,7 billion. Economist Renato Brunetta of Forza Italia immediately commented on the data: “With Italy entering recession from the fourth quarter of 2018, the 2019 debt / GDP ratio will be higher than the estimated 2,04%, probably between [ ...]
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(by Massimiliano D'Elia) Donato Masciandaro on Il Sole24Ore makes real pindaric flights between the CFA (African Franc) and the Euro, trying to make it clear that the need to create a currency in the former French colonies and anchor it to a stable currency, the euro, with a guarantee from the French Treasury, was a requirement of [...]
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From the frying pan to the grill because Italy could support the candidacy of Jens Weidmann, president of the Bundesbank, the German central bank, for the presidency of the European Central Bank (ECB). This is what was declared by the Minister of Economy and Finance, Giovanni Tria, to the German newspaper “Die Welt”. In particular, Tria said: “I am open-minded, the decision does not [...]
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World GDP in the third quarter is downsized and stands at a worrying 0,5%, compared to China which flies between 5,5 / 6% and the US over 3%. The Republic writes that the incidence of the American and Chinese economy on world GDP is about 40%; this indicates that the rest of the world is growing around [...]
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The president of the ECB from Bali to Indonesia, where he is participating in an important summit between the IMF and the World Bank, wanted to talk about the recent tensions between Italy and the EU Commission, "we are waiting for the papers on the maneuver and let us calm the tone". Phrases that want to soothe the spirits after the European Commission and the IMF — last Friday they evoked [...]
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The president of the ECB, Mario Draghi, in a hearing in the Economic and Monetary Affairs Committee of the European Parliament reported on the situation in the euro area, after the monetary policies of recent years. In times of uncertainty it is important for Europe to be united. The efforts of recent years to strengthen the governance of the Economic and Monetary Union have already [...]
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Mario Draghi announced yesterday in Riga, during a board meeting that the “bazooka” is about to end the injection of liquidity, referring to the quantitative easing procedure. This news has further unnerved the markets already stressed by the unknowns on tariffs. To offset the bad news, however, he said he will leave rates unchanged [...]
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Mario Draghi announced that the “bazooka” is about to end the injection of liquidity, referring to the quantitative easing procedure. This news has further unnerved the markets already stressed by the unknowns on tariffs and the next moves of the Italian government. On June 14 in Riga it will be decided when to reset Bond purchases. This is confirmed by Peter [...]
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The increase in tensions on the Italian markets has brought the BTP-Bund difference beyond the threshold of 200 basis points; this could have repercussions on the euro, even if for now the trend of the single currency has been determined by other factors. This is what the analysts of Goldman Sachs write in the daily report 'Global Markets Daily': "Most [...]
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Following Saturday's arrest by the National Anti-Corruption Agency of Latvian Central Bank Governor ABLV, Ilmars Rimsevics, for the first time since taking over euro area banking supervision in 2014, the ECB used its powers to suspend payments from the Latvian bank. Payments from bank ABLV, 3rd [...]
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The president of the ECB, Mario Draghi launches a warning for bitcoin, the cryptocurrency that is making the whole world talk due to the crazy fluctuations and related speculations. Today, a member of the Bank of Italy, Salvatore Rossi, also intervenes on the subject, calling them "speculative contraptions". And from Iceland comes a curious alarm: if the use of [...]
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