Monti played down suggestions he was about to leap from unelected technocrat to campaigning politician.Mario Monti is in talks with centrist groups to stand for election in FebruaryItaly’s borrowing costs rose and its stock market fell sharply after Monti made clear he’s stepping down earlier than expectedFinancial markets, European leaders and the Church have all urged Monti to stay in politics to safeguard reformsA Monti-led centrist alliance could capture 15 to 25 percent of the Italian vote, according to estimates(Financial Times) — Mario Monti is in talks with centrist groups urging him to stand in Italy’s elections early next year [...]
CERNOBBIO Italy’s dairy sector will survive the ending of European Union milk production limits in 2015, agriculture minister Mario Catania told Reuters. “Prices will be lower and force us to be more competitive,” Catania said in an interview on Saturday. “But the system will hold up.” While the agro-food industry contributes more than 15 percent to the euro zone’s third-biggest economy, an opaque distribution chain and a fragmented farmer community have dragged on growth in the sector. The planned lifting of EU milk quotas in 2015 has stoked fears the domestic market will be inundated by cheaper milk from bigger [...]
Eurozone woes are hitting coffee culture in southern Europe.Coffee culture emblematic of southern Europe is under siege in eurozone crisis Consumption per capita is down in Italy and Spain to levels last seen five to six years agocoffee industry has long seen demand protected from economic fluctuations(Financial Times) — If life in the eurozone’s economically embattled periphery was not bad enough, now the coffee culture emblematic of southern Europe is under siege. Italians are having to cut back on their cappuccinos and espressos and Spaniards are dropping their cortados, contributing to a sharp drop in wholesale coffee prices.The coffee industry [...]
LONDON Italian banks rallied in afternoon action on Thursday, after European Central Bank President Mario Draghi said the bank would initiate unlimited sovereign-bond purchases as an “effective backstop” to remove tail risk in the euro zone. Banca Popolare dell’Emilia Romagna Scarl jumped 8.3%, UniCredit SpA surged 7.6% and Unione di Banche Italiane SCpA rose 6.7%. The FTSE MIB index gained 3.6% to 15,675.26. Yields on 10-year Italian government bonds fell 15 basis points to 5.36%, according to electronic trading platform Tradeweb.