Economists warn Italy’s economy could be like Greece due to banking crisis

Economists warn Italy’s economy could be like Greece due to banking crisis

Rome/Brussels : European economists and analysts have claimed that as the Italian banking sector is overburdened with a debt of 350 billion,  the Italian economy could also tumble down like that of Greece. The Italian economy is the 3rd largest economy in the ‘Eurozone’. The instability of this economy may lead to uncertainty in the entire […]

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Turkey currency crisis is a threat to the German economy, warns German finance ministry

Turkey currency crisis is a threat to the German economy, warns German finance ministry

Berlin: The sliding Turkish Lira is creating additional perils for the German economy, cautioned the German finance ministry. The value of the Turkish Lira has fallen by more than 50% against the US dollar, and the debt burden on the country also has increased. Germany being the country with the highest investments in Turkey will […]

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Abandoning Dollar and Euro, Russia and China should start using local currency, demand Chinese Industrialists

Abandoning Dollar and Euro, Russia and China should start using local currency, demand Chinese Industrialists

Shanghai: “The sanctions imposed by the United States and Europe have created an opportunity for Russia and China to strengthen their mutual economic cooperation and that both the countries should use the local currency for mutual trade,” demand Chinese industrialists. This statement was made in the ‘Valdai Discussion Club’ meeting in Shanghai. Russia being the […]

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Greece must implement reforms or leave Eurozone, warns German Finance Minister

Greece must implement reforms or leave Eurozone, warns German Finance Minister

Athens: German finance minister said that its imperative for Greece to implement economic reforms, if it is to stay in the Eurozone. In spite of this warning, EU during its Brussels summit agreed to grant some debt relief to Greece. It is said that the decision was influenced by the shocking results of Italy’s referendum. […]

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Italian referendum verdict causes upheaval in Europe, PM Matteo Renzi resigns

Italian referendum verdict causes upheaval in Europe, PM Matteo Renzi resigns

Rome: The local voters in Italy have given a negative verdict towards the referendum made for a constitutional reform. This is the second major blow to the European Union who has as yet not recovered from the ‘Brexit’ verdict. While Prime Minister, Matteo Renzi has submitted his resignation after the referendum verdict in Italy,  the […]

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