Index.php
From Polychromatic
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.
under US justice
In addition,replica rolex, the agent must maintain their certified status by paying renewal fees and attending continuing education seminars. If you are going to entrust an agent with making career and life decisions on your behalf, you owe it to yourself to make sure they are certified. After you speak with a few certified sports agents, it is up to you to determine which agent is the best fit for you.
He was whisked off the train at the next stop,replica breitling, and into what, under US justice, would be a nightmare of lack of due process and standards of evidence. He says the Japanese police failed to take a statement, to inform him of his rights, or to allow him to communicate for eight days. He was simply asked to confess..
When you were born again, you were translated into His glorious Kingdom. Yes, right now you are in His kingdom, which your Father wants you to experience on earth as it is in heaven. Jesus came so that you might have life and life more abundantly. Natural gas, which is piped into Ireland from overseas and is a different product than bulk gas, (which is a by-product of the crude oil refining process) will be an option in parts of Mayo in coming months,fake rolex watches, when the county taps into the national grid,swiss replica watches. Customers wishing to bring natural gas into their homes will have to pay to bring a connection from the mains pipes (currently being laid on roads around Westport and Castlebar) to their front door. Thereafter, a constant supply of gas will flow into their homes for which they will be billed every two months,rolex replica.
Brilliant but often clinical Austrian director Michael Haneke takes a turn with Amour, a most surprising love story. Georges and Anne, long-married Paris music teachers, are now in their 80s and must face Anne growing dementia and decline. It an unblinking examination of a couple forced to face their own mortality and, unthinkably, life without the other.
The LANA board has started a fund-raising campaign to serve this need. The fund money goes towards developing and administering the certification examination for health care professionals. The estimated cost of exam development and initial administration by a professional testing organization is approximately $100,fake rolex,000.Articoli Correlati：
- which might on first meeting have no apparent dialogue
- and pantry all at once
- or someone else's phone
