August 15, 2014 17:47
(AGI) – Rome, August 15 – In Europe the crisis is not ‘over. In the Old Continent and ‘stop even the German locomotive.
After certification of the Italian recession beginning of the month and’ was the turn of France and Germany. If Paris and ‘stops, Berlin moves back by 0.2% in the second quarter. Berlin also revises downward growth of the first quarter, up from 0.8% to 0.7%. Meanwhile, the GDP of France in the second quarter remains stationary, as in the first three months and not ‘recession, but we’re almost there. Consequently, the Paris government announces that it will respect ‘the target of deficit and made it known that at year end will come’ at 4% over the pre-established 3.8%, which Brussels already considered ‘excessive. In addition, the estimates of GDP at year-end are halved: France will grow ‘by only 0.5% and not 1% as the government estimated. Without the contribution of Germany and France, the eurozone’s GDP also shows the rope.
Was revealed by Eurostat flash estimates, according to which the economy of the euro in the second quarter remains firm on a quarterly basis and advances only 0.7% on an annual basis. Europe therefore remains at stake and, in Le Monde, the French finance minister, Michel Sapin calls for more ‘flexibility’ in Brussels: “This situation of insufficient growth, inflation too weak and too slow a reduction of the deficit is its origin in causes which are properly the French but also shows a situation with respect to which only a comprehensive European response can ‘give an answer. ” Sapin also calls on the ECB to “implement a monetary policy able to cope with this extraordinary situation.” The appeal of Paris but ‘not found great resonance in Frankfurt. The ECB, in its monthly bulletin, reaffirms its commitment to use powerful tools to deal with a prolonged low inflation, but for now is content to remember that the program Omrlt refinancing long-term will strengthen ‘its accommodative policy and contribute ‘to closer to 2% inflation ceiling. In addition, the Eurotower explains that its recipe to boost the recovery “moderate and uneven” and Eurozone ‘to give more’ momentum on structural reforms to promote private investment and job creation, proceeding, however, ‘in line with the Stability Pact ‘and growth and not undermine progress achieved in the public accounts. According to the Head of the Research Department of BNL Gruppo BNP Paribas, John Ajassa disappointing gross domestic product data in the major economies of the Eurozone are the result, in large part, the drop in exports.
“Italy is not ‘ alone. The GDP data in major eurozone countries tell us that the stagnation of development and ‘a European problem: a problem – detects Ajassa – in which Europe’s single currency must give common answers that go beyond the levers of money and credit. ” “Behind the weakening of the economy, in Italy as in the rest of the eurozone, there is ‘a common factor: the deceleration of exports. Exports Within the firm there is’ a double set of problems.” This situation, however, does not frighten the markets close (with the exception of Milan and Madrid) and positive in the spread marks a setback to 163 basis points compared to 168 of the opening. To support the bags the conciliatory tone of Russian President Vladimir Putin.
CRICKET: OUTSIDE THE EURO IS NOT TO DIE FOR
“Outside the euro not to die.” Beppe Grillo, with a title that suggests Italy’s exit from the Eurozone, raises a long article in the Telegraph, in which after a long analysis of the Italian economy and its relations with European concludes that despite the difficulties’ this choice, “this time might not be so ‘obvious that the country wishes to be saved to European conditions. Renzi – we read in the British newspaper raised by Grillo – can’ rightly conclude that the only way to fulfill this its task of a Renaissance Italy, and build his own myth, and ‘to bet it all on the lira. ” (AGI).
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