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Rome challenges the European Central Bank

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European Central Bank blasted over Monte dei Paschi di Siena bail out evaluation

European Central Bank blasted over Monte dei Paschi di Siena bail out evaluation*/

– The bank, saddled with bad loans, needed to raise £4.2billion (€5bn) by the end of the month to avoid being wound down with the Italian government expected to inject billions to keep the lender afloat.Italy’s third biggest lender, said on Monday the ECB had estimated its capital shortfall at £7.5bn(€8.8bn), compared with a £4.2 (€5bn) gap previously indicated by the bank, provoking a furious reaction from Rome.Economy minister Pier Carlo Padoan said the ECB should have explained more clearly why it nearly doubled its estimate of the capital shortfall.
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Rome challenges the European Central Bank

Rome challenges the European Central Bank*/

– Share on Facebook Share on Twitter Share on Google+ Share on LinkedIn +Rome is unhappy with Frankfurt.The Italian government is expressing dismay with the European Central Bank with two statements that may signal a more assertive attitude than Frankfurt would expect.Frankfurt “out of the blue”The Italian economy minister, Pier Carlo Padoan, expressed his dismay with the European Central Bank and its handling of the Monte Dei Paschi.
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European Central Bank forecasts 0.1% growth in Greece during 2016

European Central Bank forecasts 0.1% growth in Greece during 2016*/

– The European Central Bank (ECB) forecast that Greece will achieve growth rates of 0.1 pct of GDP in 2016, in the Eurosystem staff macroeconomic projections for the euro area countries posted on its website on Thursday.Growth rates in the country are then seen rising to 2.5 pct of GDP in 2017 and 3 pct of GDP in 2018 and 2019.For unemployment, the ECB projections see this falling to 23.5 pct in 2016, 22 pct in 2017, 20.5 pct in 2018 and 19 pct in 2019.
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