public finance

A Problem China Cannot Outgrow – Stratfor – 29/12/2016

Forecast • China's corporate debt has climbed to levels that, in other countries, have led to financial crises. • But the debt-for-equity swap program Beijing adopted this year will not solve its problems, and China will not be able to grow itself out of trouble again. • The Chinese government will have to either sacrifice [...]

By |January 5th, 2017|Categories: News|Tags: , , , , |

Euro zone to unblock Greek short-term debt relief deal in Jan – Reuters – 24/12/2016

Euro zone finance ministers, the Eurogroup, will unblock the now suspended short-term debt relief measures for Greece in January after Athens reassured euro zone lenders it would honor its bailout commitments, Eurogroup sources said on Saturday.

Source:  Reuters, 2016/12/24

By |January 5th, 2017|Categories: News|Tags: , , , |

Portugal must watch its spending: ECB, Commission – Reuters – 08/12/2016

The Portuguese government must spend its money more efficiently to bring down its high public debt and meet its obligations as bond yields rise, the European Central Bank and the European Commission said on Thursday. The two institutions had just completed their fifth "surveillance mission" since Portugal left its bailout programme in 2014. "The very [...]

By |December 15th, 2016|Categories: News|Tags: , , |

Brazil’s Senate Passes Constitutional Amendment to Cap Public Spending – WSJ – 13/12/2016

Unpopular measure is victory for embattled President Michel Temer, who wants to control ballooning budget deficit and boost investor confidence.

Source:  WSJ, 2016/12/13

By |December 15th, 2016|Categories: News|Tags: , , , |

UN slams Brazil’s plans to cap public spending growth – Public Finance International – 12/12/2016

Brazil’s planned 20-year government spending freeze will breach citizens’ human rights, a United Nations expert has concluded.

Source:  Public Finance International, 2016/12/12

By |December 15th, 2016|Categories: News|Tags: , , |

Greece to approve new cuts for 2017 in parliament vote – Gulf News – 10/12/2016

Parliamentary vote will levy around €1b in extra taxes while public spending on salaries and pensions will be slashed by €5.7b next year.

Source:  Gulf News, 2016/12/10

By |December 15th, 2016|Categories: News|Tags: , , |

Russia Sells Stake in Rosneft to Glencore and Qatar – Energy Journal – WSJ – 08/12/2016

Russia said it sold a minority stake in state-controlled oil giant PAO Rosneft to a consortium formed by Glencore PLC and Qatar in a deal valued at some €10.5 billion ($11.3 billion), write James Marson and Scott Patterson.

Source:  WSJ, 2016/12/08

By |December 15th, 2016|Categories: News|Tags: , , , , , |

Italy boosts public sector pay ahead of PM Renzi’s referendum – Reuters – 30/11/2016

Italy's government signed a deal with trade unions on Wednesday to hike public sector pay for the first time in seven years, just days ahead of a referendum on which Prime Minister Matteo Renzi has staked his career. In 2017 public workers will get a gross average increase of 85 euros per month, Susanna Camusso, [...]

By |December 1st, 2016|Categories: News|Tags: , , , |

Britain has little room for business tax cuts, Dutch warn – Reuters – 22/11/2016

Britain's budget deficit and high public debt levels will make it hard for the country to introduce business tax cuts to stem an exodus of corporations from the country after it leaves the European Union, the Dutch finance minister said on Tuesday.

Source:  Reuters, 2016/11/22

By |November 24th, 2016|Categories: News|Tags: , , , |

Italy faces fiscal moment of truth with December referendum – The Hill – 17/11/2016

It is difficult to exaggerate the importance of Italy's forthcoming referendum, not only for the Italian economic outlook, but also for that of the eurozone as a whole. If Prime Minister Matteo Renzi wins that constitutional reform referendum on Dec. 4, Italy could probably keep muddling along with its very troubled and highly indebted economy. [...]

By |November 24th, 2016|Categories: News|Tags: , , , , |