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Monte dei Paschi: Italy Must Cut Ties Between Banks and Politics
Business / Politics

Monte dei Paschi: Italy Must Cut Ties Between Banks and Politics

Were it not for some shady derivatives trades carried out by the world’s oldest bank, Banca Monte dei Paschi di Siena SpA, Italy’s most recent parliamentary elections might have produced a government. When Bloomberg News on Jan. 17 broke the first details of derivatives transactions that the bailed-out Monte dei Paschi made to hide losses, … Continue reading

Italy’s Political Crisis is in President Napolitano’s Hands
Politics

Italy’s Political Crisis is in President Napolitano’s Hands

The chaos and uncertainty following Italy’s parliamentary election last month is compounded by the imminent retirement of the one man who has any chance of solving the crisis, President Giorgio Napolitano. A wave of support for the populist 5-Star Movement produced an electoral earthquake in the Feb 24-25 poll, shaking the traditional political system to … Continue reading

Italy’s Foreign Minister Terzi Resigns Over Marine Case
Foreign Affairs

Italy’s Foreign Minister Terzi Resigns Over Marine Case

Foreign Minister Giulio Terzi resigned Tuesday over the government’s decision to return two Italian marines to India to stand trial for killing two local fishermen in a case that has soured diplomatic ties between the countries. “I resign in disagreement with the decision to send our marines back to India,” Mr. Terzi told Parliament. “I … Continue reading