Italy

    • Italy approves state guarantees for Fiat Chrysler loan

      Italy approves state guarantees for Fiat Chrysler loan

      Italy approved a decree offering state guarantees for a €6.3bn loan to Fiat Chrysler’s Italian unit, paving the way for the largest crisis loan to a European carmaker,  news wires reported. Italy’s audit court had signed off on the decree, in a final step of what had been a lengthy and contested process to get the loan approved, said a source close to the matter. The court’s approval follows an earlier endorsement by the economy ministry.

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    • Positions on EU Recovery Fund still distant, Conte says

      Positions on EU Recovery Fund still distant, Conte says

      Italy's PM Conte said on Wednesday that the positions of EU Member States on the Recovery Fund were still far apart, ahead of the EU leaders summit this week, ANSA reported. Italy is set to be the top beneficiary as the country hardest hit by COVID-19 if the European Commission's proposal for a €750bn fund is approved.

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    • Venezuela denies report it funded Italy's anti-establishment M5S in 2010

      Venezuela denies report it funded Italy's anti-establishment M5S in 2010

      Sources at Venezuela's embassy in Rome on Monday told ANSA that a report in Spanish daily ABC that Venezuela funded Italy's anti-establishment 5-Star Movement (M5S) in 2010 was all false.The embassy sources said the report was "false and absurd" adding that the Venezuelan authorities would take legal action. The sources added that the movement was "totally unknown in Venezuela" in 2010. The M5S was founded in 2009.

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    • Italy's PM sees virus crisis as opportunity

      Italy's PM sees virus crisis as opportunity

      Italy would not be able easily to return to normality after the coronavirus crisis but should turn  it  into an opportunity to reform the country, PM Giuseppe Conte said on Saturday. “This is the time to work on a clear project to come out of the crisis,” Conte said in the opening speech of a nine-day policy consultation in Rome. “We must take advantage to turn the crisis into an opportunity, and remove all the obstacles that have slowed (Italy) down,” he added cited by the news wires.

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    • Italian opposition parties boycott estates general talks

      Italian opposition parties boycott estates general talks

      The Italian centre-right opposition declared on Thursday it would boycott the estates-general talks on the Covid-19 economic recovery plan, prepared by the PM Guiseppe Conte, news wires reported. The government has invited employers, unions, political parties and the representatives of international bodies, including European Commission President Ursula von der Leyen at Rome's Villa Pamphili palace this weekend.

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    • Greece, Italy agree on maritime border

      Greece, Italy agree on maritime border

      Greece and Italy signed an agreement on Tuesday that marks the maritime boundary in the Ionian Sea between the exclusive economic zones of the two EU Members, news wires reported. The deal is “an important development” and shows Greece’s constant goal is to delimit maritime zones with all its neighbours, with valid agreements that adhere to international law, unlike Turkey’s agreement with Libya, Greek Foreign Minister Nikolaos Dendias said in Athens, after signing the accord with his Italian counterpart Luigi Di Maio.

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    • Virus-battered Italy faces worst recession since World War II

      Virus-battered Italy faces worst recession since World War II

      Facing its deepest recession since World War II and with business confidence collapsing, the coronavirus pandemic is hitting Italy's economy hard. Business confidence in the Eurozone's third largest economy in May plummeted to its lowest level since official statistics institute ISTAT started the index in March 2005.

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