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Tuesday, July 17, 2012

Is Italy Just Spain With Better PR?

Mario Monti - Caricature
Mario Monti - Caricature (Photo credit: DonkeyHotey)
Italy has escaped closer attention than Spain in recent weeks, but this could be due to technocratic Prime Minister Mario Monti selling its story better than the Spanish government. And markets’ faith in Monti could leave whoever succeeds him in a tricky position. Monti has said he won’t seek election again, but no credible alternative to his technocratic government has yet risen from the ashes. There have even been whispers that former Prime Minister Silvio Berlusconi (related slideshow: Silvio Berlusconi's Greatest Hits) could return to the fray. The government is expected to miss its deficit targets for this year and next by a growing number of analysts. Targets for 2012 and 2013 are 1.7 percent and 0.5 percent of GDP, respectively, but Marco Stringa, European economist at Deutsche Bank predicts that the figures will come in at 2.3 percent for 2012 and 1.5 percent for 2013. ... Continue to read.
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