a punishment for breaking the bloke s fiscal rules italy s populist government had promised to increase spending on the poor and to lower the retirement age the e.u. said the original budget but have raised the country s public debt beyond acceptable levels. the eurozone could see its first interest rate hike in the new year the first since two thousand and eleven that is but it probably won t happen until much later in the meantime the european central bank is weaning the block off stimulus winding down its most controversial measure its massive bond buying scheme proponents said it helped stabilize financial markets critics called it market manipulation. b.c.b. president mario draghi made the announcement mid december the european central bank want to buy bonds on the financial markets start in january. regarding known standard monetary policy measures are net purchases under the us it purchase program will end in december two thousand and eighteen the e.c.b.
won a silver medal for germany at the olympic games and john chiang. already that is so long ago already i know if we ve already forgotten what they ve even won or you ve got a you re here with business now on a story about italy striking a deal with the e.u. over its controversial budget well i don t know yet if they can strike a deal but they re certainly trying to sue me which which is abuse of it is government has agreed on the basis of a new budget aimed as avoiding disciplinary action from the european union now this move comes after the country s original spending plans were found to be in breach of e.u. fiscal rules italy s leaders want to increase welfare payments cut taxes and reduce the retirement age but the usus those plans will raise the country s deficit beyond acceptable levels the details of the revised budget i m not yet know. while meanwhile the turkish economy is slowing and that in the midst of a domestic currency crisis the turkish lira tumbled as much as forty se
following weeks of protests the demonstrations were originally sparked by anger over a planned fuel tax hike in response might cost perhaps the tax and increase the minimum wage by one hundred euros a modest the total cost of those concessions could be up to fifteen billion euros fuelling concerns off an unsustainable debt. and meanwhile italy s government has agreed on the basis of a new budget aimed at avoiding disciplinary action from the european union and the move comes after the country s original spending plans were found to breach e.u. fiscal rules italy s leaders want to increase welfare payments cut taxes and reduce the retirement age of the e.u. says those plans will raise the country s deficit beyond acceptable levels the details of the revised budget i m not yet known. i m on that i m joined by
other words more support for struggling eurozone economies but the help comes with strings attached there was far less consensus on other issues though like the proposal for a joint eurozone budget and a plan to secure all eurozone bank deposits also looming over the missing uncertainty over italy spending plans the country s currency revising its draft budgets after the e.u. threatened to finance for violating fiscal rules italy s public debt now stands at more than one hundred thirty percent of g.d.p. that s more than double of what s allowed under e.u. rules another thing that will need to be talked about it s going to do much has you standing by in brussels for a scaled hours and hours of negotiations there but not really much of a result when you say. ben are just full of the joint press conference of lemaire