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Eurointelligence Daily Morning Newsbriefing: Delirious markets declare euro crisis over (03.01.2013)
Italian spreads fell to 283bp as markets react euphorically to the fiscal cliff deal, amid unbroken optimism about the eurozone; the latest Italian polls see a massive advantages for Pier Luigi Bersani's PD; Mario Monti's alliance scores between 10 and 12%, but could yet emerge as a king maker if the PD falls short of a majority in both chambers of parliament; Silvio Berlusconi says Monti was part of a criminal conspiracy of international banks to bring down his government; Monti said he keeps having difficulties following Berlusconi logic; the latest forecast show a massive rise in Italian unemployment, especially in the south; while the private sector suffers, the Italian public sector's revenues are increasing; Jonathan Hopkin says Berlusconi will not win the election, but he could still score a surprise; Gavin Jones says Monti's labour market reforms have so far failed to bring any benefits; the Greek general government had a primary surplus between January and November last year; finance minister says country will be within the agreed 2012 deficit target of 1.5% of GDP; the pressure is growing on a former Greek finance minister over allegations that he tampered with a list of tax refugees; the Spanish Socialists are proposing to turn the country into a federal state to counter the threat of regional separatism; the Spanish government is considering a number of measures to reduce SME's dependence on bank loans; a Spanish newspaper writes that the 2012 deficit will come in at 9% of GDP - completely busting the target; Portugal's president has referred the 2013 budget to the Constitutional Court; the eurozone's manufacturing sector purchasing managers' index continued to shrink further in December - while US manufacturing is slowly picking up; German employment reached a new record, despite the economic slowdown; car sales fell dramatically in Italy, Spain and France during 2012; an investors' survey shows that the risk of a eurozone breakdown has fallen dramatically; US money market funds are slowly returning to the eurozone - or rather to Germany - but overall funding levels are still low; Lex, meanwhile, warns that the eurozone crisis is far from over.


I distribute. You re-distribute. He gives your hard-earned money to lazy scroungers. -- JakeS
by Migeru (migeru at eurotrib dot com) on Thu Jan 3rd, 2013 at 03:29:42 AM EST
[ Parent ]
Berlusconi attacks Monti and Napolitano, wants a commission of inquiry...

Berlusconi has accused Monti of a criminal complicity to use the Italian spreads to engineer his downfall. According to Il Messaggero Berlusconi said his resignation was triggered by a plot of international creditors, including Deutsche Bank, and by Monti. That's why he wants to setup a special commission of enquiry. Berlusconi also said one investigate Giorgio Napolitano's role in the crisis.

... and Monti jokes over the "international plot"

Monti responded to Berlusconi allegations, calling it "interesting" but odd. Berlusconi confuses him on a logical level, Monti said, expressing a hope that voters were less confused than he was, he said during an interview on the RAI radio show Radio Anch'io. Monti remarked his government had avoided a full economic disaster through austerity measures, which were needed to stabilise public finances. Monti also said he wants to cut payroll taxes to revitalize Italian economy.



I distribute. You re-distribute. He gives your hard-earned money to lazy scroungers. -- JakeS
by Migeru (migeru at eurotrib dot com) on Thu Jan 3rd, 2013 at 03:32:17 AM EST
[ Parent ]
Delirious markets declare euro crisis over

Mission Accomplished! v.2.0

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Thu Jan 3rd, 2013 at 04:20:08 PM EST
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