via Macropolis | You are the outgoing British prime minister, responsible for calling a needless referendum whose result will – at best – lead to a painful realignment in your country’s relations with the rest of Europe and the wider world. What is your last action in Parliament? A moment of reflection about the decades of carefully constructed ties with EU member states and institutions that will now be overturned?
The Corner | June 1, 2015 | Italian risk premium (136.5 bp) should probably come down and be lower than the Spanish one (135 bp) this week despite PM Matteo Renzi’s set back in the country’s regional elections on Sunday, experts at Bankinter commented. (Chart above: Italy Generic Govt 10Y Yield by Bloomberg.)
MADRID | The Corner | Italian PM Matteo Renzi won the Parliament’s confidence vote on Italy’s labour reforms on Thursday, the most importan in his 8 months in the job. As the country’s economy has been stagnated for two decades, many wonder how far the center-left government’s plans will go. The current jobless rate of the eurozone’s third biggest economy is above 12% (44% youth unemployment). “Italy must reduce the proportion of workers on temporary contracts in the overall work force, but the details yet to be unveiled remain critical to assess whether it represents a true game-changer or not.” analysts at Barclays commented on Friday.