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Il Sole 24 Ore - Front Page

All the news from Il Sole 24 Ore front page newspaper, provided daily, translated

A Pact To Rethink

In his letter to majority parliament members, Italian prime minister Matteo Renzi offers a first political response to the economic data by statistics agency Istat. His answer must be convincing, to avoid that the government find itself crucified on the figures of the new recession. ...

Investments in Search of a Lever for Confidence

The ECB operation allowing banks to draw liquidity in order to finance businesses is not enough to restart credit and growth; it should be integrated with longer-term maneuvers that include a higher involvement of national development banks.

Verdi and Italian Delay

Article 18 is beyond outdated; yet, political furor keeps it alive. At the center of this debate: where the responsibility of welfare must return.

Litigious and Self-Harmful Europe

The president of the European Central Bank, said that no stimulus, neither monetary or budgetary, can have a lasting impact without bold structural reforms capable of improving competitiveness in Europe. Yet, the rest of Europe seems uninterested.

The New Challenge for London: Yes or No to Europe

The outcome of the vote on Scottish independence barely solved one problem for the United Kingdom, and only postponed other, possibly more hairy, ones to in near future.

The Scottish Syndrome

Britain’s avoidance of a disaggregation is not only a victory for Britain, but Europe as well. However, Europe still faces looming threats of disaggregation at the hands of various separatist and nationalist movements.

Liquidity Alone Is Not Enough

Amid greater calls for more liquidity, the limits of the European Central Bank become increasingly evident.

Credit Restarts When There Is Growth

The possibility for banks to borrow extra money from ECB in order to lend it to medium and small businesses was not as popular as expected: in order to restart the real economy it takes much more than ‘easy’ liquidity.

Today, Nobody Wants to Revive the Judicial Wars

With a pending investigation of his father, Tiziano Renzi, Matteo Renzi finds that his own credibility may also end up on trial.

The Out-Of-Sync Relay Between the Fed and the ECB

In a very delicate, post-crisis environment, the Fed seems intent on moving carefully and ambiguously. This strategy only causes the ECB to trip over the Fed’s feet.

If "Yes" Wins: A Plan to Save the Pound

The Bank of England is carefully weighing debt—with the future of the pound on its shoulders.

The Euro-Lifesaver

The upcoming moves by the ECB to inject liquidity in the real economy and the expectations of experts and analysts about their possible effects.

Europe's «Announcement Syndrome»

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Italy's Renzi government is often charged of being afflicted with an "announcement syndrome" – i.e., announcing, rather than enacting reforms (spurring even an Italian neologism – "annuncite"). The critique is not unwarranted, but prompts a spontaneous retort: "Look who's talking." Indeed, if there is one player on the European stage who suffers acutely from the malady, it is Europe itself. The latest example is provided by the acclaimed ...

A More Informed Renzi: The Challenge Now Is Article 18

Renzi hopes to break through the last objections on the labor reform Italy needs to secure European flexibility over public accounts. His plan, however, makes no mention of the funds to support the necessary welfare cushions.

Reforms or Elections—But Without Losing that 41 Percent

Amid a difficult battle with Parliament, Matteo Renzi finds that he only has public opinion to fall back on.

Banks: More Write-Downs to Restart Credit

An Interview with the European Banking Authority chair, Enria Andrea Enria.

If the European “No” Infects Northern Nations

Anti-Europeanism is something that has been developing with steady profession in Southern nations for some time, but a possible spread to northern nations is a development that can bring grave consequences.

Jobs Do Not Need Séances.

The debate on the rules of the job market has been stuck for too many years on ideological taboos: an open-minded discussion on how to reform it based on simple economic considerations that have been long overdue.

Klaus Regling Interview with Il Sole 24 Ore, full text

 (AP)

Q. The EFSF/ESM have a joint maximum lending capacity of 700 bn euro. What has been done so far?R. In 3,5 years of activity, EFSF/ESM supported 5 countries with a total disbursement of 232 bn euro: EFSF supported Ireland (17.7 bn), Portugal (26 bn) and Greece (141.8 bn), the ESM supported Cyprus (5.4 bn) and Spain (41.3). The interest rate applied was the same for all, basically to our funding cost, which is now on average around 1.5%. ...

No-Reform Sleepwalkers on the Brink of Precipice

German Finance Minister Wolfgang Schäuble has called for stronger investments, Berlin included. How well this will translate into real decisions remains to be seen—especially when Italy enters the equation.

Versione Italiana

The Economists

The Wrong Growth Strategy for Japan

CAMBRIDGE – Japan’s new government, led by Prime Minister Shinzo Abe, could be about to shoot itself in the foot. Seeking to boost economic growth, the authorities may soon destroy their one ...

China’s Antifragile Ambitions

HONG KONG – China has once again reached a crossroads on its journey toward inclusive, sustainable prosperity. At the Chinese Communist Party’s congress in November, the new leadership was ...