Published On: October 28, 2018 12:05 AM NPT By: Republica | @RepublicaNepal
Brussels has rejected Italy’s 2019 budget, setting its governing coalition on a collision course with the commission. Rome has three weeks to submit a new spending plan or face millions of euros in fines. Writing in the New York Times, Jack Ewing, an economics and monetary policy expert, warns of dire consequences when interest rates spike and investors lose confidence in a country’s ability to pay its debts. Last week, Moody’s Investors Service downgraded its rating of Italian debt to one notch above the level where it would no longer be considered investment grade — in plain language, “junk.” If the tension between Italy’s populist government and the European Commission continues, there is a good chance that Standard & Poor’s will follow Moody’s lead, putting pressure on the other two leading rating agencies -- Fitch and DBRS -- to do the same, pushing Rome over the cliff to the junk abyss.
As part of the crisis in Venezuela, the country’s GDP took a big hit. While the gross domestic product was... Read More...
Russia is stepping up its political and military presence in Africa using a shadowy army of mercenaries which is alleged... Read More...
ACCUMOLI, Aug 24: Rescue crews using bulldozers and their bare hands raced to dig out survivors from a strong earthquake that... Read More...
Leave A Comment