{"id":21510,"date":"2016-08-16T13:34:16","date_gmt":"2016-08-16T18:34:16","guid":{"rendered":"http:\/\/olduvai.ca\/?p=21510"},"modified":"2016-08-16T13:35:43","modified_gmt":"2016-08-16T18:35:43","slug":"who-or-what-will-push-italy-over-the-cliff-this-year","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=21510","title":{"rendered":"Who Or What Will Push Italy Over The Cliff This Year?"},"content":{"rendered":"

Who Or What Will Push Italy Over The Cliff This Year?<\/a><\/h3>\n
\n
\n

\"Prime<\/a><\/p>\n

Traditionally, the Eurozone\u2019s GDP numbers of the second quarter of a calendar year are being released in the first few days of August, and this year isn\u2019t any different. And as expected, the updated report contains some not-so-very-optimistic results.<\/p>\n

Germany continues to be the main engine of the economy of the Eurozone, as the largest country of the bloc saw its GDP increase by\u00a00.4%<\/a>which is better than expected as the market was expecting a weaker growth result. Unfortunately Italy is once again stagnating and instead of a small economic growth of 0.2%, the economy\u2019s growth\u00a0rate fell flat<\/a>\u00a0and remained at exactly at the same level, indicating the program of monetary expansion of the ECB isn\u2019t working just yet.<\/p>\n

\"Italy<\/a><\/p>\n

Source: Bloomberg<\/p>\n

<\/div>\n

The lower growth rate (after realizing a GDP increase of 0.3% in the previous quarter) also caused both the International Monetary Fund and the Bank of Italy to revise their growth expectations as both institutions now expect the country\u2019s economy to grow by less than 1% in the current year. That\u2019s a very disappointing result as the quantitative easing program of the European Central Bank was predominantly aimed at reducing the impact of economic contractions in the poorer performing countries. But the situation might actually be even worse than you\u2019d expect.<\/p>\n

After all, Italy could be considered to be a semi-failed state, and the current prime minister, Matteo Renzi, was planning to push some reforms through after the summer recess of the country\u2019s parliament. Reforms will definitely be necessary to try to the Italian economy going again, as it\u2019s one of the very few countries remaining short of the pre-crisis levels of the GDP considering Italy\u2019s GDP is still approximately\u00a08% lower<\/a>\u00a0compared to the pre-crisis GDP numbers whilst the unemployment numbers are\u00a0increasing<\/a>\u00a0again.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"

Who Or What Will Push Italy Over The Cliff This Year? Traditionally, the Eurozone\u2019s GDP numbers of the second quarter of a calendar year are being released in the first few days of August, and this year isn\u2019t any different. And as expected, the updated report contains some not-so-very-optimistic results. Germany continues to be the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[11156,233,282,285,353,434,1464,11136,4318],"class_list":["post-21510","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bank-of-italy","tag-ecb","tag-european-central-bank","tag-eurozone","tag-gdp","tag-international-monetary-fund","tag-italy","tag-secular-investor","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/21510","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21510"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/21510\/revisions"}],"predecessor-version":[{"id":21512,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/21510\/revisions\/21512"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21510"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21510"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21510"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}