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Economy

 

​More supervision and cooperation

The “supervisory framework and international cooperation system further strengthened”. This is the latest from the 2014 annual report presented by the Autorità di informazione finanziaria ...

To make a real difference

In a few days, the leaders of G20 economies will arrive in Australia for the Brisbane Summit.Six years ago, the impacts of the global financial ...

Enough throwing away

On Saturday, 12 July, Pope Francis met with the participants of an international conference which took place in the Casina Pio iv at the Vatican, ...

A truly human ethical approach

The Holy Father sent a letter for the opening of the 44th annual meeting of the World Economic Forum, held from 22-25 January, in Davos-Klosters, ...

Not everything can be bought and sold

Gary Baker an economist at the University of Chicago said in a text of 1976 that people always act to maximize their own well-being, whatever ...

Signing of a Memorandum of Understanding

The Financial Intelligence Authority of the Holy See and Vatican City State ( Autorità di Informazione Finanziaria - AIF), signed a Memorandum of Understanding yesterday, ...

A world of unemployed

Two hundred million people without work and two out of five of them are young people. These are the figures publicized by the Managing Director ...

Olympic effects on the British GDP

The positive effects of the Olympics are pulling Great Britain out of the recession. In the wake of the business that the Games brought about ...

German court says yes to Europe

Germany's high court in Karlsruhe ruled the ESM, European Stability Mechanism, and fiscal compact as constitutionally legitimate, but imposed certain conditions for ratification. More specifically, ...

Draghi shows his hand

In July Mario Draghi had promised that the ECB would “do whatever it takes” to save the eurozone from speculative attacks, with the guarantee the ...

Beijing invests in  Egypt

The large-scale quest for Chinese capital that Cairo began after the serious financial crisis, accentuated by the rebellion that led to the collapse of Hosni ...

Beijing the final frontier

Beijing, 30. Angela Merkel seeks Chinese support to cope with the European debt crisis. Today, for the second time in the last seven months, the ...

Swiss bishops against the logic of financial markets

The minds of millions of Europeans are teeming with thoughts and worries about the difficult financial situation: under fire above all is speculation, which makes ...

Who is paying for the crisis?

By the year 2020, 70 million more people will be living in dire poverty. And in this same period more than 400,000 children will not ...

China on the brakes

Signs of a slowing Chinese economy were officially confirmed yesterday: in the second quarter of 2012, growth was an estimated 7.6 percent. That figure, according ...

Job emergency number one

A new report has come out for clarifying and overcoming the employment problem in Europe. The International Labour Organisation (ILO) in Geneva today published a ...

A voice  for the important questions

The activities of the University Centre in Bydgoszcz, Poland, for studies on the thought of Joseph Ratzinger-Benedict XVI, begin today, Monday, 11 June. And they ...

Priority placed on growth

More effort to promote growth does mean giving up on severity. The G8 at Camp David, which concluded on Saturday, could mark a turning point ...

Free trade in Asia

China, Japan and South Korea will start final talks concerning a common area of free trade before the end of the year. The announcement came ...

The soundest economies flounder

“I have no magic wand to wave”. George Osborne, Chancellor of the Exchequer, summed up the sentiments which all European leaders are now feeling. In ...

A fragile and uncertain recovery

The International Monetary Fund (IMF) sees estimates of world growth in 2012 and 2013 increasing. The GDP will grow this year by 3.5 % and ...

If one's sense of responsibility is distorted

With his resignation publicly announced and explained in an article in the New York Times, an executive director – who for years worked in high ...

Beijing on the run from the dollar

The share of China's reserves in American assets fell to a decade low of 54% at the end of June, down from 65% in 2010, ...

German vote on Greece

The German Parliament is voting on the aid package for Greece today: a crucial step towards overcoming the European debt crisis. Numerous parliamentarians could say ...

The strategy of solidarity

In the Western world the need to deleverage the debt produced over 30 years by families, businesses, financial institutions and states is giving rise to ...

Athens, rescue with conditions

After 13 hours of negotiation, Brussels gave the green light to the second round of aid to Greece. While they claimed to be aware of ...

Crucial hours for Greece's future

Crucial hours for Greece's future: this morning the representatives of the major political forces that support the Government are to conclude the agreement with the ...

Health and citizenship

How can one reconcile the idea of citizenship with blaming someone for illness, interpreted in terms of its cost to society as a whole? This ...

Searching for a treaty for growth

The search for the treaty to rekindle growth is a priority in the busy schedule of the work at the EU summit today in Brussels. ...

A German lesson in Davos

“Europe is a great and magnificent achievement and I am convinced that we can keep this whole Europe together”, said Angela Merkel in her keynote ...

Beginning the rescue fund

Europe opens the door to the new rescue fund programme ESM. Meeting in Brussels, the finance ministers finalized the new European stability mechanism. The treaty ...

Cuts are unproductive

Many opera companies are going through a difficult financial crisis; especially in Italy and particularly the most important ones. In 2010, the most recent year ...

A word you don't say

La terza età [literally the third age, which refers to senior citizens] made its debut in Italy in 1971. It was a translation of Simone ...

Solidarity between nations

We are living in a momentous financial and economic situation: our grandchildren will study it in their history books, and not only the economic situation. ...

Europe lacks the Fed

The great financial crisis is imposing new strategies. The uncertainty and lack of trust demand cooperation and coordination as well as immediate and balanced answers. ...

Moody's doesn't believe in the European plan

The enthusiasm for the December 9th European agreement is over. At mid-morning, Milan lost 2.37%, Paris, 1.84%, Frankfurt 2.15% and London .88%. Moody’s rating agency ...

The market must never lack solidarity

On Saturday morning, 10 December, in the Vatican’s Clementine Hall, the Holy Father addressed members of the Confederazione delle Cooperative Italiane [Confederation of Italian Cooperatives] ...

Finance and the golden calf

As the political leaders of Europe meet to save the Euro and European Union, so should religious leaders. That is why I have come to ...

Efforts converge to strengthen a dialogue of culture and peace

Introduction. The Delegation of the Holy See wishes to thank His Excellency Mr. Audronius Ažubalis, Minister for Foreign Affairs of Lithuania, as well as the ...

Fleeing European bonds

Tighter limits on foreign sovereign debt, especially European ones. Washington takes measures on the crisis and imposes strict regulations: the authority which governs American futures ...

Markets challenge the ratings threats

The markets do not believe the ratings “threats.” Despite Standard & Poor’s warning, which yesterday placed a negative credit watch on fifteen European countries, market ...

The right balance

The plan which Germany and France intend to present to the European Council on December 9th is not only the umpteenth move to contain the ...

That unionist, Leporello

Being moved by art will not increase the gross national product. On the contrary, the more the GDP falls, the more art is perceived as ...

Merkel's version

“It is like during a marathon: the most difficult moment is the 35th kilometer and the one who starts fastest isn’t necessarily the most successful. ...

“Andante”, but not too much, for the stars and stripes economy

The United States’ economy has slightly improved from November. This is the synthesis of the message contained in the Fed’s “Beige Book”, the report of ...

Responsibility and ethics in finance

“Today in particular, the economic crisis makes evident that a completely self-referential market is unsustainable and, while it raises new questions about the responsibility and ...

Cameron attacks Europe

Economic growth of the old continent is stifled by European Community rules that are, “pointless,” said British Prime Minister David Cameron in a speech yesterday ...

Greece committed to remaining in the euro

Greece will do everything necessary to remain in the euro and default will be avoided if necessary measures are adopted immediately, Greek Finance Minister, Evangelos ...

A new citizens' pact for young Europeans

The financial and economic crisis which has shaken Europe to its core, cannot be resolved only by accounting and fiscal measures to balance the budget. ...

The EU puts the reins on rating

The war on rating agencies has already begun. The three American sisters - Fitch, Moody's and Standard & Poor's - are on the ropes: from ...

Bernake sounds the alarm

The problems of the American economy, “are very serious,” and the Fed is doing everything possible to sustain the job market and growth, the President ...

A new model of leadership

There have been serious errors, which continue to persist, in interpreting and underestimating the current economic crisis. The true origins of the collapse of birthrates ...

The good deed that doesn't cost a euro

It is without doubt a catchy slogan: L’ultima lira: Una buona azione non costa nulla ("The last lira. A good deed costs nothing"). It was ...

The epicentre of the economic crisis

“ Be Afraid ”: just a journalistic publicity stunt? No, the title on the cover of the Economist – which shows a big black hole ...

A raw material called savings

The upheaval in the international markets that concerns above all the sale of the European countries’ State bonds, are due to two main factors. They ...

Noah's horizon

Albert Einstein said that reality, to be explained and confronted, must be simplified rather than made deceptively simple. The ability to simplify complex situations is ...

Strategic solutions for recovery

It is useless, in this emergency, to attempt to assign responsibility for errors committed; it is better to use creative resources in a productive way. ...

Scepticism rules the European stock exchange

Given the expected macroeconomic data from the United States and Trichet's speech at the conclusion of the BCE summit, scepticism rules the situation of the ...

Economics of survival

The United States was not able to produce a new “bubble”: they threw in the towel and reached an anti-default agreement, preceded by a real ...

The agreement that re-launches the global economy

With the agreement reached yesterday between Republicans and Democrats, America has avoided technical default and breathed life into the world economy. Now, Congress must approve ...

Moody’s axe on Greece’s ruins

For Greece, mala tempora currunt . Moody’s agency has announced a ratings cut of three notches – from Caa1 to Ca – on local and ...

The cost of the euro’s survival

“Let us not be under any illusions, the situation is very serious: the future of the euro is at stake.” The realism of the President ...

Children are the engine of recovery

Observing the populations of Western countries – in particular countries which could be called “mature,” such as the United States and those that make up ...

If the United States loses the debt battle

An agreement between Republicans and Democrats to raise the legal debt ceiling in the United States still seems far away. There are only 14 days ...

The Europe that is hungry

The European Union spending cuts have heavily hit its weakest citizens. Funds for food aid which distribute free food to the poor have been cut ...

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Jan. 20, 2019