Sancho

Just out, from Eurostat - http://epp.eurostat.ec.europa.eu/cac...2014-AP-EN.PDF

sunnysider

Europe - Italy to reveal ‘cost of EU palaces’ in escalating budget row - France 24

Is this a wise tactic in view of some of Italy's, ahem, somewhat high spending on certain "institutions"?

MarkRD

and now for the bad news....

Italy’s in terminal decline, and no one has the guts to stop it - Nicholas Farrell in The Spectator.

Sadly, sums it all up rather well.

Patty

Thanks for that article mark - very interesting read but very scarey too !

MarkRD

Yes it is but he gives a lot of sad truths about Italy there. Maybe anyone wishing to come over and live should read it carefully!

isshin

This Nicholas Farrell?

Two Sweeps Over the Limit - Taki's Magazine

My Name Is Nicholas and I Am an Alcoholic - Taki's Magazine

It’s in Their Culture - Taki's Magazine

MarkRD

Yup..looks like the one. He also wrote a book about Mussolini, the dictator.

isshin

seems like a nice chap

MarkRD

Well he calls Renzi 'left-wing' so ....

isshin

Once upon a time he also called Berlusconi the "only savior of Italy" and his judges (along with Travaglio, Santoro, etc) a "commies brigade".

heritagestanley

I've several times considered cancelling my subscription to the Spectator because they persist in printing articles about Italy by Mr Farrell. I can't make up my mind whether he's simply deluded or an ignoramus full of bile, prejudice and b.....it

Maybe1day

I have been following the Public Debt this year after last years' cover-up.
I saw that it had reached 2168 Billion (5.5%) in the 2nd qtr. Since then ISTAT has issued no further data. C5 News tried to pass off this figure the other day as the 3rd qtr saying it was 3.3%. Going to the ISTAT site there is no info for July, August and September. The Renzi cover up has started, they are lying through their teeth saying that they are on target for a 2.9% deficit. If the increase is already (2nd qtr) 5.5% and the PIL is -0.3% then the deficit is nigh on 6% with 6 months to go to the end of the year.
I thought he was a snidy one with the 100 day promise, sorry 1000 day, sorry 10000 days would be more likely and it will sort itself out in the end by auto levelling within 30yrs.

isshin

Like the EU would approve the budget if numbers like those were real...ma per favore...

Capo Boi

'I saw that it had reached 2168 Billion (5.5%) in the 2nd qtr.'

2168 Yes. Total debt.

Budget deficit 45....45/1560 2.88% of GDP. Not sure where your 5.5% is coming from.
Debt to GDP 2168/1560....139%.

Big debt, but the annual payments are not too bad. (Think of it as a mortgage on an expensive house). Hunky dory with a bit of growth and some inflation. Unfortunately, that's not happening at the moment.

Sancho

This a month old, and it's second-tier analysis so to speak. Still, it's fairly detailed - Italia verso la bancarotta: nuovo record del debito pubblico e produzione industriale

Up-to-date, uninterpreted, un-analysed monthly Banca d'Italia figures here - https://www.bancaditalia.it/statistiche/finpub/pimefp

P.S. There's nothing strange or even new about including estimates for the "black economy" in the GDP.