Tag: Debt

Italy Cuts 2019 Deficit Goal to 2% in Bid to Avoid EU Procedure

(Bloomberg) — Italy’s populist government lowered its 2019 budget deficit in a bid to comply with European Union rules and avoid sanctions for failing to rein in debt.The deficit is now expected to be 2.04% of economic output, according to a person familiar with the issue who asked not to be identified
— Read on ca.finance.yahoo.com/news/italy-cuts-2019-deficit-goal-055254991.html

Italy Economy Seen Contracting Again, in Blow to Populists – Bloomberg

Italy’s economy probably shrank again this quarter, according to the country’s statistics office, complicating the populist government’s efforts to meet its fiscal commitments.
— Read on www.bloomberg.com/news/articles/2019-06-20/italy-economy-seen-contracting-again-dealing-blow-to-populists

Canadians took on less debt in first quarter of 2019 — but total amount they owe is still growing | CBC News

While Canadians are finally easing up on their credit debt, their mortgage commitments continue to push overall debt levels up.
— Read on www.cbc.ca/news/business/statscan-debt-data-1.5173538

China’s loans causing ‘hidden’ debt, risk to economies

China’s lending to other countries, often shrouded in secrecy, is thought to be higher than the amounts that are officially tracked, resulting in much “hidden debt.” That could spark a worse-than-expected slowdown, among other problems, experts warn.
— Read on www.cnbc.com/2019/06/12/chinas-loans-causing-hidden-debt-risk-to-economies.html

Credit Crisis-Blamed Debt May Help Canada With Housing Risk – Bloomberg

The type of securities blamed for triggering a credit crisis in the U.S. a decade ago could now be part of the solution in Canada, where a cooling housing market is a key risk to its $1.7 trillion economy.
— Read on www.bloomberg.com/news/articles/2019-06-05/credit-crisis-blamed-debt-may-help-canada-spread-housing-risk

Delinquency Rates Hold Steady Even as Canadian Borrowing Climbs – Bloomberg

Serious delinquency rates “remained steady” in Canada as credit growth moved higher at the beginning of the year, according to TransUnion.
— Read on www.bloomberg.com/news/articles/2019-05-22/delinquency-rates-hold-steady-even-as-canadian-borrowing-climbs

Visco Says Italy’s Debt Load Is ‘Severe Constraint’ on Economy

Italy urgently needs a “credible” strategy to cut a public debt load that risks imposing a “severe constraint” on the economy, European Central Bank Governing Council member Ignazio Visco said. The ratio of debt to economic output may exceed the levels targeted by the government in its latest plan,
— Read on ca.finance.yahoo.com/news/visco-says-italy-debt-load-083350758.html

Italy Gets ECB Pushback on Debt Idea, Told to Sort Out Finances

Italy came in for further criticism from the European Central Bank on Wednesday, with policy makers rejecting the idea of a debt guarantee and renewing warnings about excessive debt. ECB Vice President Luis de Guindos said the lesson from Italy’s run-ins with the European Commission over its spending
— Read on ca.finance.yahoo.com/news/italy-gets-ecb-pushback-debt-093953352.html