Italy Downgraded To Lowest Investment Grade

[Economy 52,839]

https://www.bnnbloomberg.ca/italy-cut-to-moody-s-lowest-investment-grade-over-fiscal-plans-1.1155419

 

Italy's debt has been downgraded to the lowest investment grade by Moody's ranking agency just one level above junk bond status

 

High government debt, slow economic growth and plans to run a deficit higher than EU rules (2% of GDP max) have prompted the downgrade

 

Italian 10 year bonds are trading above 3%

[River 127,321]

Because of the stupid new government

They will probably say that this article is fake or something, everything is a conspiracy against Italy

[rumours 45,521]

3 minutes ago, River said:

everything is a conspiracy against Italy

13 year-old Italian Gaga is coming for your ass.  

OT: Not surprising. 

[River 127,321]

1 minute ago, Rumours1977 said:

13 year-old Italian Gaga is coming for your ass.  

OT: Not surprising. 

I'm married to an Italian, but a real one, not a fake one like Gaga

OT: they are making a law that'll give 800 euro per month to unemployed people, it's a card and they can buy things in shops with it. it's too much!!! but immigrants are excluded btw, you need to live in Italy for 10 years for that.

[Robo Ga 15,614]

1 hour ago, River said:

I'm married to an Italian, but a real one, not a fake one like Gaga

I was NOT ready for this tea 

[Economy 52,839]

15 hours ago, River said:

I'm married to an Italian, but a real one, not a fake one like Gaga

OT: they are making a law that'll give 800 euro per month to unemployed people, it's a card and they can buy things in shops with it. it's too much!!! but immigrants are excluded btw, you need to live in Italy for 10 years for that.

So discourage labor force participation while increasing government financial strain

 

Smart one

[Immortal 222]

15 hours ago, River said:

I'm married to an Italian, but a real one, not a fake one like Gaga

OT: they are making a law that'll give 800 euro* per month to unemployed people, it's a card and they can buy things in shops with it. it's too much!!! but immigrants are excluded btw, you need to live in Italy for 10 years** for that.

*€780
**5 years

 

 

By the way, a few more things to consider:

• As said before, you need to live in Italy for at least 5 years.

• Annual income must not be above €9.800.

• If you're an house owner, they'll give you €380 only.

• The maximum duration of this individual aid was planned to be 3 years, but it will probably be 18 months.
 

[Killa 18,817]

15 hours ago, River said:

I'm married to an Italian, but a real one, not a fake one like Gaga

OT: they are making a law that'll give 800 euro per month to unemployed people, it's a card and they can buy things in shops with it. it's too much!!! but immigrants are excluded btw, you need to live in Italy for 10 years for that.

That's still discussed but i find most of it completely absurd. Much more important should be deciding a minimum wage for christ sakes

[River 127,321]

8 minutes ago, Immortalpop said:

*€780
**5 years

 

 

By the way, a few more things to consider:

• As said before, you need to live in Italy for at least 5 years.

• Annual income must not be above €9.800.

• If you're an house owner, they'll give you €380 only.

• The maximum duration of this individual aid was planned to be 3 years, but it will probably be 18 months.
 

Thanks for the fixes!

 

I still think it’s too much, even for 18 month, many people will work in black and get this extra money, it’s Italy we are talking about...

and let’s say now my husband is fired from his job, we live in Costa Rica, so he’s coming back to Italy and? He’s no eligible for this help.. only because Salvini wants to punish the immigrants? And in this cases the person needs help more than anyone...

[Luc 4,776]

Investors overreacting imo. Like, the government is pretty bad (why lower income taxes for the rich to 20%? ) but it's good to have a party in charge that's fresh and not as corrupt yet (talking about M5S, not LEGA). In the end corruption is the main problem, not whether Italy has a 3% or 2% deficit. Italy's been running primary budget surpluses for the past 20 years but growth has remained low and thus debt high. There can only be two solutions: invest and get higher economic growth/inflation, or heavy austerity which would be terrible for the economy (see Greece). West-European politicians think it's irresponsible to have such a high deficit, but let's not forget that Italy hasn't had economic growth over 1% for years now. Italy isn't in good economic times which would make a deficit irresponsible, it's been in bad economic times for over a decade now. They need to do something to get the growth engine started. I just hope that at the same time they're doing stuff to reduce corruption, increase government transparency, reduce bureaucracy as those are the biggest problems leading to low investment/innovation/competitiveness and thus low growth in the long run.