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From Joe
Italy has moved to centre stage in the eurozone debt crisis.
While Greece generated a lot of noise, it is now seen as a sideshow.
Greece's debt problems are already widely known and the immediate consequences of a Greek default largely anticipated.
Moreover, the size of the Greek economy is small enough that the direct damage, if Greece stopped paying its debts, should be quite manageable for the eurozone.
Instead, the big fear is "contagion" - that a Greek default could trigger a financial catastrophe for other, much bigger economies - in particular Italy and Spain.
And it seems it is Italy that is now seen as the lead candidate for that contagion. But why is this? Prudent Italy?
According to Germany's Chancellor, Angela Merkel, "Italy has great economic strength, but Italy does also have a very high level of debt and that has to be reduced in a credible way in the years ahead."
As with Greece, she and other eurozone leaders believe the solution is more government austerity - spending cuts and tax rises - by Rome.
However, some economists might disagree with her assessment.
The Italian government's debt, at 118% of GDP (annual economic output) is certainly high, even by European standards.
But dig a little deeper, and the picture changes.
Unlike their counterparts in Spain or the Irish Republic, ordinary Italians have not run up huge mortgages, and generally have very little debt.
That means that according to the Bank of International Settlements Italy as a country - not just a government - is not actually terribly indebted compared with other big economies such as France, Canada or the UK. Continue reading the main story Crisis jargon buster Use the dropdown for easy-to-understand explanations of key financial terms: GDP GDP Gross domestic product. A measure of economic activity in a country, namely of all the services and goods produced in a year. There are three main ways of calculating GDP - through output, through income and through expenditure. Glossary in full
Moreover, the large debts of the Italian government are nothing new. It has got by just fine with a debt ratio over 100% of its GDP ever since 1991.
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Behind the data, is the military committee of the Republic a sincere, confident, for the cause of socialism with Chinese characteristics to the people's army of love."The responsible person said.The
Beijing new residential prices rise continuously May stop
from the concrete apartment layout, 90 square metres of residential chain fell 0.1%, rise compared to the same period 2.3%; 90-144 square meters of residential chain fell 0.1%, rise compared to the same period 2.5%; more than 144 square meters of residential central flat, rising 1.8% over the same period.
than in the same month last year, 70 large and medium-sized city,air jordan, price fall city has 2, than in September increased by 1.The city fell 59.In October, the year-on-year rise in 5% within the city has 57, than in September increased by 8.
secondary residential central or were not more than 0.5% from the second-hand housing, compared with last month, 70 large and medium-sized city, price fall city has 38, the city has 19 flat.Compared with September, October price decline in the city increased 13,woolrich outlet.Prices in the city, price increases were not more than 0.5%.
newspaper news (reporter Jiang Yanxin) national statistic bureau yesterday released in October 70 and medium-sized city residential sales price changes, data display, 70 large and medium-sized city in the 34 city new home prices fell, with compared September, October price decline in the city increased 17.Compared to the same period, there are 2 city price fall.
from Beijing market, Beijing new residential price index central or flat, and has 5 consecutive months of stopping up.New commercial housing and secondary housing price index chain rose were decreased by 0,louboutin pas cher.1% and 0.5%.From the specific data,hollister deutschland, new residential than flat,hollister, rising 1.7% over the same period.New residential commodities were decreased by 0.1%, rise compared to the same period 2.2%.
from the 70 city's house price index data can be seen: an annulus house prices showed obvious decline.Rose faster than the city the highest increase of only 0.2%, only 16 city rose.
data show that,hollister clothing, compared with the previous month,hollister sale, 70 large and medium-sized city, price fall city has 34,hollister france, the city has 20 flat.Compared with September, October price decline in the city increased 17.Price rises in the city, or were not more than 0.2%.
Beijing
new residential prices were flat from the Beijing market, Beijing new residential price index central or flat, and has 5 consecutive months of stopping up.New commercial housing and secondary housing price index chain rose were decreased by 0.1% and 0.5%.From the specific data, new residential than flat, rising 1.7% over the same period.New residential commodities were decreased by 0.1%, rise compared to the same period 2.2%.
second-hand housing Beijing ring than the largest decline, reaching 0.5%,abercrombie deutschland; an increase of 0.4% only.Among them, 144 square-meter second-hand housing regardless of chain or year-on-year, there are nearly 1 percentage points down.
than in the same month last year,woolrich, 70 large and medium-sized city, price fall city has 13, than in September increased by 6.The city fell year-on-year increase of 43.In October,abercrombie, the year-on-year rise in 5% within the city has 51, than in September increased by 1.
new merchandise residential maximum chain rose only 0.2%
has an expert to think,abercrombie milano, a decline of city increases substantially, price has to inflection, prices downward tendency is obvious; but the city fell rarely, descriptions of current prices remain high.
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