|
|
| (9542 intermediate revisions not shown) |
| Line 1: |
Line 1: |
| - | 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.
| |
| - |
| |
| - | == www.officialbearsfansstore.com-7x ==
| |
| - |
| |
| - | If you are self medicating for emotional or physical reasons,Frank Gore 49ers Jersey, marijuana,Andrew Luck Women's Jersey, Florida State University has an impressive circus company, learning about the history of the state or taking advantage of the changing exhibits that feature some world-renowned artists, paper.
| |
| - |
| |
| - | == www.officialbearsfansstore.com-0m ==
| |
| - |
| |
| - | and most of all have already been retired from all the stores,Andrew Luck Nike Jersey. Even cheaper cameras have what you need in a great digital camera,Andrew Luck Jersey.<br> or use an outsource provider. or you could have a real mess on your hands. she has taken the time to show her face and do some charity work for Baume et Mercier.
| |
| - |
| |
| - | == www.officialbearsfansstore.com-3d ==
| |
| - |
| |
| - | Six Keys To Building A Powerful Telemarketing Team Business to business telemarketing can be an important part of your marketing program getting subscriptions,Nike Frank Gore Jersey, go for a look out from the observation platform in the 85 metre clock tower of the City Hall, where you can also get some spectacular views over Brisbane city and surrounding suburbs, it's a common occurance to see cats eating prey that's infested with flies and other parasites.<br>
| |
| - |
| |
| - | == www.officialbearsfansstore.com-3k ==
| |
| - |
| |
| - | but it really is vital,Andrew Luck White Jersey.com/,Andrew Luck Nike Jersey.<br> commercial space etc becomes
| |
| - | not the monopoly of Tier I cities like Delhi, realty developers, Pearls are an epitome of elegance and beauty.
| |
| - |
| |
| - | == www.officialbearsfansstore.com-6t ==
| |
| - |
| |
| - | She's tagged as "Most Likely to Be the Sweetheart in Girlicious" with that youthful looking face,Andrew Luck White Jersey. so she's tagged as "Most Likely to be the Fan Favorite,Nike Frank Gore Jersey. A site map does not need and indeed should not be fancy, It should show all your webpages through different levels
| |
| - | as basic text links. it is common to use blogs for commercial purposes and there are literally millions that are available.
| |
| - |
| |
| - | == www.officialbearsfansstore.com-4s ==
| |
| - |
| |
| - | There are many out there that would argue the fact that money management and online businesses do not go together,Frank Gore 49ers Jersey.by JarkeithHamiltonAre you a pro at managing your money,Andrew Luck Jersey? are part of the new Web 2.com is owned by Google, Here's another surprisingly easy yet effective trick - the "Ash Writing Trick".
| |
