Istat: in February returns deflation, prices down by 0.3% – ANSA.it

After nine months back deflation in Italy in February with “widespread price declines in almost all product types”. Istat noted, in the provisional data, a decrease in consumer prices by 0.3% on an annual basis, the largest in over a year (January 2015), and a 0.2% reduction even on a monthly basis. The previous month there had been a rise in prices by 0.3% on the year and a decline of 0.2% on the month.

The prices of so-called shopping basket of food commodities , for the care of the house and of the person decreased by 0.1% compared to January and by 0.4% year on year (in January was + 0.3%). This was communicated by Istat. This is the first downward trend since December 2014 and the broader from July of the same year. In particular for food products (including alcoholic beverages) prices decreased by 0.1% on a monthly basis and record on a yearly basis, a reversal of the trend (-0.3%, from + 0.4% in January ).

EU-19: Eurozone back into deflation, -0.2% in February – The Eurozone inflation returned to negative territory in February, falling to -0 , 2% compared to 0.3% in January. And ‘the flash estimate of Eurostat. The last minus Eurozone was seen to September 2015 (-0.1%). Looking at the main components, the services have the highest rate (1%, while in January they were 1.2%), followed by food, alcohol and tobacco (0.7% in January were at 1%), industrial products non-energy (0.3%, compared to 0.7% in January) and energy (down 8%, compared to -5.4% in January).

consumers Union, from cart cost savings 54 € – the fall in prices shopping cart, according to the national Union estimates consumers, allowing a couple with two children to save, in terms of lower cost of living, 54 euro on the basis yearly. For a couple with a child the benefit is 50 Euros, for a couple with no children under 35 years will be 40 Euros, for a singlo under 35 years of 29 Euros and a retiree over 65 years of 27 euro. “Italy is back in deflation. This figure shows that the application is not taken off and the crisis is far from over. Other than consumer recovery!” said the secretary of the National Consumers Union, Massimiliano Dona. “The causes of this deflation – he added – that the families still struggling, should worry the Italian government and the European Union, and not just Mario Draghi. There are not enough monetary policies to boost demand, but also fiscal policies worthy of note. “

Confcommercio, to falling prices until the summer -” Without an unlikely and abrupt reversal, hardly will return before next summer to positive rates of change consumer prices on an annual basis and, therefore, have become difficult to assume inflation for 2016 around half a percentage point. ” This is the comment of Confcommercio Studies Office, the latest ISTAT figures. “The return of the change in prices in negative territory – stated in the research department – as expected, has assumed dimensions slightly greater than those assumed. The downward trend in prices, common to all European economies by virtue of sensitive drops recorded by energy raw materials, in Italy was marked by the increase of agricultural products offer “. “It remains moderate – continues Confcommercio – therefore, the risk deflation, as the downward trend in prices has limited reasons, while for the majority of goods and consumer services, from clothing, to furniture, sevices recreation, receptive and catering, prices remain moderate growth (between 0.4 and 1.3%). “

Codacons, bad signal deflation, shock therapy now -” The return to deflation is a bad signal for the country for the national economy “. This was stated Codacons, commenting the ISTAT figures who see in February, a decrease in consumer prices by 0.3% on an annual basis. “A very bad news that deflation because it is the most obvious symptom that something is not working in Italy and that the long-awaited economic recovery sluggish,” says the president Carlo Rienzi who believes “more urgent than ever a shock therapy that pushes the consumption and promote purchases and domestic demand, as well as to call into how the economy and lead to a resumption of retail price lists. “

Confesercenti, by cold shower prices, now cut personal income tax – “the inflation data in February is a cold shower, although not entirely unexpected: as we have repeatedly pointed out, in fact, the last quarter of 2015, the recovery in consumption has begun to slow.” So Confesercenti on the latest ISTAT figures. “The fall in prices in February, then, even if influenced by energy, confirms that the domestic market is still in a difficult phase”, affected the association. “We need a courageous intervention, which gives a bit ‘of oxygen to the families and aid the re-start of the expenditure. The Irpef cutting project, if confirmed, would certainly be the main way to go as soon as possible for report to the availability of income and trust between Italian families “, concludes.

Federdistribuzione, data from -” the February inflation figures are extremely alarming and are the thermometer of a country in which the weakness of domestic demand, in addition to not being able to sustain the recovery, it is not even able to avert the danger deflation. ” This was stated by the president of Federdistribuzione Giovanni Cobolli Gigli. “The families, whose purchasing power is growing, remains a favored savings instead of consumption, despite the purchases are increasingly affordable. A vicious circle is created because people lack security about the future,” according Cobolli Gigli, and that “must be broken.” “The only way – concludes the president of Federdistribuzione – is to give a positive outlook to households and businesses, through the implementation of institutional reforms, fiscal and economic, for example, restoring the true content of the Bill on competition, these days again under discussion in Parliament, thus overcoming the shared feeling that you want to stop the process of liberalization of the economy. “

Deflation warning: sharp fall in prices in Italy and the eurozone. According to Istat in February -0.2% – Il Sole 24 Ore

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This article was published on February 29, 2016 at 11:18 hours.
the last change is the 29 February 2016 at 14:41.

You deflation alarm in Italy and the eurozone as a result of the sudden drop in oil prices. If they needed a figure to induce the European Central Bank to take action at the next meeting in March, it arrived today. Let’s start from Italy: inflation, announced this morning the Mayor, decreased in February by 0.2% MoM and 0.3% on an annual basis (+ 0.3% in January). The strong downward trend in consumer prices, explains the Institute, is due to a cyclical dynamic features of widespread price declines in almost all types of products, which compares with the positive of February 2015 when all types of products marked a price recovery of the month. The inflation for 2016 amounted to -0.6 percent.

Along the same lines as the European: the Eurozone inflation back in negative territory in February, falling to -0.2% compared to 0.3% in January. It is the flash estimate of Eurostat. This is the strongest descent from a year now. The last minus Eurozone was seen to September 2015 (-0.1%). Looking at the main components, the services have the highest rate (1%, while in January they were 1.2%), followed by food, alcohol and tobacco (0.7% in January were at 1%), industrial products non-energy (0.3%, compared to 0.7% in January) and energy (down 8%, compared to -5.4% in January). Without considering food and energy, inflation in the euro area (core CPI) rose by 0.7% from + 1% in January.

“If we look at Europe at this moment – said yesterday the governor of the French Central Bank Francois Villeroy de Galhau – the danger is clearly the deflation, not inflation. If energy prices low have long-term effects, we must take action. It seems this is the case, but we will see in March. ” The ECB meets next on March 10 to launch new anti-deflation measures announced by Draghi after the last meeting. Today’s data may only reinforce the pressure not because Frankfurt act.

The February data are negative in almost all European countries, from -0.2% in Germany to 0.1% in France up to 0.9% in Spain. “Deflation would be a disaster for the euro area – notes Holger Sandte, economist at Nordea Bank – as it would further increase the debt burden. The problem is that indipendentementeda what the ECB will decide on March 10, inflation will remain around zero for some months before rising. “

Returning to Italy, the so-called price shopping cart food prices, for the care of the house and of the person decrease of 0.1% compared to January and by 0.4% year on year (in January was + 0.3%). This is the first downward trend since December 2014 and the broader from July of the same year. In particular for food products (including alcoholic beverages) prices decreased by 0.1% on a monthly basis and record on a yearly basis, a reversal of the trend (-0.3%, from + 0.4% in January ).

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tax cut corporate income tax and personal income tax Renzi Government 2016-2017: how it works, for whom, by when. amounts and examples computing – Online Business

 Cut corporate income tax and personal income tax, freeze the increase in VAT for three years, at least until 2019: it seems to be confirmed top agenda of the prime minister of a tax cut this year, and then move on, as feared, pensions Next year. The prime minister is going to present this plan to reduce the tax wedge on the table of the PES leaders, ahead of the EU Council next March 17. To realize this plan, you must still reach 3% in the ratio of deficit to GDP. At the base of the cutting project is the reduction of 6 points in the tax wedge. Only after the implementation of this plan you should go to the definition of measures for pensions.

 The Deputy Minister of Economy announced that the Morando Irpef cut is fixed for 2018, but may be anticipated, although it is now too early to tell, while from January 1, 2017 triggered a reduction in the rate of four IRES points. To make concrete this tax cut, the condition is that the European Union should open a new edge on the deficit. The plan, in particular, provides for a cut of six points in the tax wedge for new hires and three points by the time workers employed and employers, a cut that would be permanent and not temporary as, for example, the payment of bonuses 80 euro envelope for employees.

 If this plan were to be approved by the tax wedge reduction, cutting six points of contributions would be 1.500 euro a year for an average salary of 25,000 euro gross, ie 126 euro per month, half of which, 750 Euros, can be paid into pension funds or be maintained in payroll, in this case, however, would be taxed. Already in the year-end press conference, the prime minister had hinted that they intended to proceed this year to only IRES cut, although it was too early to speak of detailed plans.

The tax cut plan would represent a further step towards a tax break that you want to make structural and that, basically, already it began this year with the cancellation of Tasi, or IMU for agricultural land and bolted, and maxi-depreciation levels, but it is still early to give certainty about the timing and ways of working in this direction and implementation of these reductions that will certainly please the citizens.

Italian into deflation in February, is complicated debt down – Reuters Italy

Elvira Pollina and Antonella Cinelli

MILAN / ROME (Reuters) – Italy is no exception to the rest of the euro area and slips into deflation in February, further complicating the lowering of public debt path that should start this year, aim of which already bears a potential for growth that is proving to be less bright of what is put into account by the government.

According to provisional figures released by Istat, on an annual basis the ‘ national consumer price index contracted by 0.3% yoY from + 0.3% in January, compared to expectations for no change. The inflation for 2016 is 0.6%.

also negative in the harmonized index to European parameters, which drops to -0.2% to + 0.4%, to the front, even in this case, a variation of waits for nothing.

As noted by the President of the European central Bank Mario Draghi, following the sharp decline in crude oil prices and the deterioration global growth prospects, even in the euro zone consumer price index slipped into negative territory.

For February Eurostat has certified a decline of 0.2% after + 0.3% in January, reinforcing expectations for the launch of new Muzzles from Frankfurt to avert a deflationary drift.

Returning to the Italian data, Istat stresses that the strong downward trend in consumer prices is the result of a monthly trend characterized by widespread declines in all types of products.

The scenario in which the government has to deal is therefore less reassuring than expected since the last update of the macroeconomic framework included in the law of Stability.

There is assumed a GDP growth of 1.6% in terms real and of 2.6% in nominal terms, ie it is considering inflation, which would lead to a reduction of the debt to 131.4% from 132.8 in 2015. Continue. ..

Back deflation, prices fell in February – TGCOM

11:31 – Back to the deflation in Italy in February with “widespread price declines in almost all product types”. It not happened for nine months. Istat noted, in the provisional data, a decrease in consumer prices by 0.3% on an annual basis, the largest in over a year (January 2015), and a 0.2% reduction even on a monthly basis. In previous month there was an increase of 0.3% on the year and a decline of 0.2% on the month.

Shopping cart -0.4% – And, if on average prices fall by 0.2%, decreases even more the shopping cart , which covers the goods food, care of the house and of the person: here we are at -0.1% MoM and -0.4% yoY, after + 0.3% in January. This is the first year fall in December 2014 and the highest share since July of the same year. In particular, for food products, including alcoholic beverages, the index shows a decrease of 0.1% on a monthly basis a turnaround on an annual basis: it goes from + 0.4% in January to the current 0.3%.

also falling prices in Europe – the same trend also in Europe where, according to data released by Eurostat in February the index turned negative with a -0.2% month on month, while annually marks a -0.3%.

Positive ‘s “core inflation” – However, it remains positive, although down from + 0.8% to + 0.5% in January, the “core inflation, net of unprocessed food and energy prices. the components that contribute to a greater extent to determine this framework are not regulated energy goods (which accentuate the downward trend from 5.9% in January to -8.4% in February ), the unprocessed food (-1.2%, from + 0.6% in January) and services related to transport (-0.7%, from + 0.5% the previous month).

the general index monthly decline is due to almost all types of products, but above all to lower prices of non-regulated energy goods (-2.2%). the inflation for 2016 is equal to – 0.6%.

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Deflation

The new cut of the Renzi government taxes – next

Increase in VAT frozen for three years , IRES cut 4 points without exceeding the 3% deficit limit : this is the program of the new tax cut at the Renzi government to stimulate growth. the prime minister is ready to bring the issue of a tax cut in 2017 on the board of the PES leaders, ahead of the EU Council of 17. Domestically you work for a Irpef cut already fixed for 2018 which will hopefully bring forward . To do this, you need to touch the 3% in the ratio of deficit to GDP. To study the reduction of 6 points in the tax wedge, with an impact on future pensions to be assessed.

The new cut of the Renzi government taxes

The Prime Minister is ready to bring the issue to Brussels for a coordinated intervention and not block tax cut, to be set in 2016 and be operational by next year . This will be discussed on March 12 in Paris at the PES leaders, the European Socialist Party, in view of the EU Council of 17. Meanwhile Palazzo Chigi and the Italian Ministry of Economics work plan, aiming to accelerate the tax relief (the pressure of the income tax is still high, above 43%). The Irpef cut is set for 2018 but could be brought forward to 2017. As cover everything? Valentina Count of Republic tells us that spending is obviously in deficit :

Meanwhile, a flexibility in the accounts which allows , for example, touch the 3% in the ratio of deficit to GDP in 2017, now estimated at 1.1%. Each additional decimal place is worth a billion and 600 million. So get by assumption to 2.9% means freeing as many as 29 billion. “Now it is early to say,” Morando brakes. But “it is already decided that from January 1 of 2017 triggered a reduction of four points the IRES”, the corporate tax. Unlikely that this cut “will be brought forward to 2016″. At the moment, therefore, it remains the cut IRES next year and the personal income tax in 2018, as per schedule. But it does not rule out anything, even merge the two measures would be very expensive. Especially if we consider the 15 billion potential increases in VAT has always ward for 2017 (the safeguard clause). That’s why the government thinks well on reducing the tax wedge on labor and on the company.

the idea of ​​the contribution wedge reduction (La Repubblica, February 29, 2016)

another plan, always explains the newspaper of Calabresi, is instead cut into six points the wedge of new hires, three dependent points of employer and three employee forever. There are two ways to implement it: through the personal income tax, lower rates; or by cutting social security contributions, ie provisions for retirement . The cut worth 125 Euros a month and about 1500 euro per year , but in case that half is diverted to the pension funds to make up the missed social security contributions in his pocket to the worker would remain 43 euro.

the deal may be worth about 6 billion over three years (mid-2015 work bonus). But these contributions are not compensated in less INPS by the State, as it usually does to any relief at work. On the contrary, they represent a sharp cut on future pensions: less contributions, salary a little ‘richer, but poorer check in the future. That’s why the Nannicini proposal also provides for an option: the possibility for the worker to pay his three points in less than contributions to the supplementary pension, rather than land them in payroll (where among other things would be affected Irpef).

security rincarata but right from the Renzi government that brought the taxation of pension funds from 11.5% to 20%. be why, six months from the idea, now the undersecretary brakes: “It’s a challenge, but we have to figure out how to cost less than the open-ended in terms of contributions, without adversely affecting pension expectations of workers.” On the other hand the advantage pay in envelopes, for both the employer and the employee, there would be phenomenal. Nothing compared with the current generous tax relief, however, all funded from exchequer, therefore in deficit (thanks to European flexibility).

The fees and expenses

for years, the state budget is a safeguard clause, inserted to appease the EU, which provides a permanent increase in VAT. So far the government has managed to neutralize it year by year finding temporary resources. This time, the government aims to freeze rates for at least three years, from 2017 to 2019. The VAT increase would cost 15 billion a year to consumers. Mario Sensini in the Corriere della Sera interview Enrico Morando:

How to find the covers? Even depress growth cuts …
“Especially those to investment spending. We are aware of it and we take into account, but not give up the objective of the spending review. And there are a few new things that will help us a lot. Meanwhile, the public administration reform. It is expected that many of his decrees involve savings, which will now be finally quantified. Payments which we can use as covers of other expenses in the second or third year of implementation of each small piece of Madia reform. Then help us reform the Stability Law, which this year will also absorb the budget law.

<'p> Do you plan to use savings or revenue that today can not be counted?
“in order to revise the spending without doubt. The reform will allow us to enter into the budget, and then use the programming of public finance, including the savings that do not derive directly from legislative innovation, but by administrative action resulting. ” An example? “With the reduction from 3000 to 35 of the purchase of the State stations we will also quantify the savings due to greater centralization of operations.”

Better the reductions in contributions or income tax?
> “it would be more effective to make a structural reduction in contributions, perhaps at a lower level than that provided for only 2016 would close the maneuvers for the reduction of taxes on labor, would help both households and businesses. There may be scope to anticipate the operation to 2017, provided that the EU is consistent with itself gives Member States of the proposed flexibility. Without breaking through the roof of the 3% “

29 February 2016 Alessandro D’Amato

Taxes: the black economy makes up to 50.2% – btboresette

 

There is a definite relationship between the black economy and the growth of taxes for the Italian taxpayer. It is an economy that knows no crisis. A study of CGIA Mestre reveals the link between the growth of the black-and rising taxes.

If between 2011 and 2013 the underground economy and illegal rose by 4.85 billion, coming to touch 207.3 (2013), 12.9% of GDP), says the Cgia, and net national income of the unobserved economy decreased by 36.8 billion, dropping to below 1.4 trillion, assuming that the percentage of the economy incidence observed in GDP remained the same also in the years 2013/15, the “contribution” that this “gray” economy has given the GDP in 2015 is estimated at almost 211 billion. It has an impact on the taxes we pay, the whole world of the underground economy ends up falling back on that emerged in terms of abnormal tax burden.

“In 2015,” he says Paul Zabeo CGIA, “before the operation Renzi bonus, the official tax burden in Italy was 43.7%. But the overall weight that honest taxpayers bear is actually higher and has come to touch a record level of 50.2%. ” “It is clear that a similar tax burden,” added the secretary Renato Mason, “ will be hard to find the momentum to give breath to the economy in a phase where growth remains very weak and uncertain “. For Mestre artisans association the tax burden is the ratio between the total amount of the levy (taxes, fees, taxes and social security contributions) and gross domestic product (GDP), which refers not only to the wealth produced in a year from regular activities, but also by the “generated” by the informal sector (ie not in good standing with the tax authorities) and illegal ones which consist of a voluntary exchange between economic entities (smuggling, prostitution, drug trafficking).

Government working on a maxi-cut taxes, you can advance income tax decrease – TGCOM

23:00 – “The Irpef cut is fixed for 2018, but may be anticipated.” Word of the Deputy Minister of Economy Enrico Morando, who explains: “I would not exclude that it is possible, if things go a bit ‘in the right direction, anticipate 2017 today initiatives planned for 2018. Now it is still early to tell.” And ‘however already decided, declares that “will start from January 1, 2017 a reduction in the IRES rate of four” points.

If we intervene on installments or otherwise, it see “later, when we will be able to concretely envisage the intervention,” he further explained Morando.

the big tax cut and flexibility – What the maxi-cutting taxes, perhaps precisely to anticipate throughout 2017, is the plan cherished by Prime Minister Matteo Renzi, after having signed the truce with the President of the EU Commission, Jean Claude Juncker. A plan which will be played on all of the flexibility that the executive thread counts of being awarded by Brussels also for next year.

Already in the year-end press conference the prime minister had implied to have in mind a thicker floor of IRES only cut, explaining, however, that it was too premature to go into details, so as not to “upset Padoan”, since in any case the discussion, he said, would be in full swing only “summer of 2016″.

Taddei: “On with the plan already in place, early to tell whether some points will be advanced” – Now that the climate has changed and that in Europe we start talking more growth than austerity, you could then create the conditions to accelerate one of the flagships of Renzi, cutting precisely taxes. But we must move cautiously because, explains the chief economist of the Democratic Party Filippo Taddei, “Now is not the time for decisions.”

Of course there is every incentive “to see how we can speed up a path which in any case is already in place “and sees” a structural reduction of over 23.5 billion has already been implemented “, 10 with 80 euro, 5 of IRAP, about 5 between Tasi, also IMU for agriculture and bolted and 3.3 of IRES, in addition to “another 5 billion interventions for only 2016″ from maxi-depreciation and de-contribution. “

the next intervention, he adds, are those already made public,” the personal income tax for 2018 and what we can do to reduce the cost of permanent employment for all in a structural way. “But” for now to say if and when – he said – is premature “because” first we must see the spaces that are there. “

to cut taxes is necessary for the EU to accept new margins deficit – And with growth less brilliant than you could just wait a few months ago, in fact, Italy by his own forces would not be able to anticipate the tax abatement program, while maintaining the adjustment of accounts towards medium-term process that goal, a balanced budget, already postponed twice. It’s essential to check new margins on the deficit for 2017.

The ratio of net debt to GDP with the Def update note of October was set at 1.1% in 2017, the Commission, informally, he made it known that it was prepared to grant one more 0.2%. The goal of the government would instead take him to at least about 2%, using about 15 billion flexibility to cut taxes.

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Irpef

IRS, Morando: not ruled advance income tax cut to 2017 – Il Sole 24 Ore

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This article was published on February 28, 2016 at 16:12 hours.
the last change is the 28 February 2016 at 16:15.

the Irpef cut is set for 2018 but “would not rule out that it is possible, if things go a bit ‘in the right way, to anticipate initiatives that we plan now for the 2018 to 2017′. So to Affaritaliani.it Economy Deputy Minister Enrico Morando, according to which “now is still early to tell.” Meanwhile, what “has already decided”, he recalls, is that “will start from January of 2017 a reduction of four points the IRES.”

Morando: not ruled advance income tax cut to 2017
Morando has ruled that the reduction of taxes on corporate income “can be brought forward to 2016. So I guess this deadline, that is, the beginning of the reduction in the tax burden sull’Ires, which is attached to January 1, 2017, will remain fixed for 1 January 2017. there are no other cases in the study. ” “The commitment that we have taken – said the deputy minister – is to take action to reduce the tax wedge on labor and on the company, then we must also give the side Irpef a profile that is able to achieve this . Then, you intervene directly sull’Irpef or who intervene indirectly by reducing the social security burden fiscalizzando contributions, we would then we will see when we will be able to concretely envisage the intervention. “

Reforms and debt node
Sunken also by 20 large meeting in Shanghai the commitment to use the lever of budgetary policies to push growth which still languishes, the Economy Minister Pier Carlo Padoan reassured inanato yesterday embarked on the journey from Rome and the results achieved so far. Italy, in fact, “has made much progress on the structural, but much remains to be done” and “it is obvious – said – that the agenda of structural reforms must not stop, either in terms of implementation” of those already approved, “neither of new elements to be added.” With the goal of eliminating the main element of “fragility”, that still “high debt” which, however, reiterated Padoan, in 2016 “will come down.” Of course, the real match for Italy will be played in late spring, when Brussels will say its final word on the law on public accounts and Stability.

The game on flexibility
The “truce” between Rome and Brussels on flexibility signed during the visit of Jean Claude Juncker, the prime minister Matteo Renzi does not mean that all nodes they were dissolved. Especially on the choices that the government would like to do next year, starting with the planning of the promised Irpef cut. The flexibility also for the year ahead is essential for the government, which must commit 15 billion just to defuse the safeguard clauses. But it is yet to be conquered. The government has always been confident that the Commission will approve the deficit margins that Italy has used the maneuver this year, including the clause ‘exceptional events’ destined almost entirely to safety interventions – around one point of GDP flexibility, about 16 billion. But also to gain ground on 2017, a minimum adjustment (in the order of a couple of billion at most), would be called into account and would be manageable without ad hoc interventions, through a ‘treasure’ that could emerge in the folds of the budget, reusing resources allocated to the already approved budget items and not yet fully exploited.

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The G20 calls for more strength in structural reforms – International Business Times Italy

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Confindustria, seven thousand entrepreneurs from the Pope – The Messenger

A packed room. There was all the elite of Italian finance and entrepreneurship, husbands with wives and children in tow, but there were also many employees and collaborators. At 10:30 the great Confindustria family had already invaded the Nervi Hall for a historic event: the audience with Pope Francis. In 106 years of history of Confindustria there had never been a meeting between the world so Plenary of Italian industrialists and a Pontiff.
In seven awaited the Pope’s arrival, scheduled for 12 compounds and trembling. Alert and excited. Curious to see what would he told them this Pope so different from its predecessors, this Pope who in simple terms is always able to grasp the key points of the issues. the thorniest too.

Greeted like a star, between applause and flashes of thousands of phones, Francesco as always hit the mark. The function of the entrepreneur – he said, taking up a passage of the Encyclical Praised be ‘- is “a noble vocation oriented to produce wealth and a better world for all”, but now has to prove even more forcefully its social function. Industrialists must become “builders of a new labor humanism” that is centered on “the dignity, absolute value and unavailable.”

Confindustria wanted to give a title to this meeting, which stands on badges of all present: “Be Together”. The Pope reminds and urges him: “Do not be just a slogan, but a program for the present and the future.” The soil is fertile, sure. At least one cultivated by those present in the hall. The three “greetings” to the Pope (the Confindustria President Giorgio Squinzi, ad Unicredit, Federico Ghizzoni, and chairman of Eni, Emma Marcegaglia) are a demonstration: they speak of “responsibility”, “faith”, “commitment “,” solidarity “,” sustainable development “,” values ​​”. Francis listens and nods. But then when they took the floor it soon becomes clear that will go further. It is an almost utopian world of work that relied on by the Pope. A world that includes the excluded, “the most vulnerable and marginalized, such as the elderly, who may still express resources and energy to an active collaboration but are too often discarded as useless and unproductive. ” Like young “prisoners of insecurity or long periods of unemployment.”

 But Francis utopias we believe, and therefore urges the industry to “bold steps”, indicating that “royal road of justice, which rejects the shortcuts of recommendations and favoritism, and the dangerous deviations of dishonesty and of easy compromise.” In this “altruism horizon” it is part of the most vigorous reminder of the Pope: “You refuse categorically that human dignity is trampled upon in the name of production requirements, which mask myopia individualistic, sad egoism and thirst for profit.” And from the room perhaps most thunderous applause of the entire audience.
         

             Saturday, February 27, 2016, 18:01 – Last Updated: 21:20
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The underground economy takes flight: for Cgia worth € 211 billion – TGCOM

 
 
 
 

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• The underground economy takes flight: for Cgia worth € 211 billion

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Video Tgcom24 – Economy

February 27, 2016

According to the association of Mestre is still grown in the two years, bringing the tax burden from 43.7% to 50.2% real official

10:14 – If the economy has long been in trouble, that relates to operations in black on the contrary, according to CGIA Mestre, no crisis. And in the 2014-2015 two-year period it has arrived, according to conservative estimates of the association, to be worth 211 billion euro. While the real one, in the 2012-2013 period, fell by 36.8 billion, falling to below 1,400.

” In 2015 – He emphasizes the research office coordinator Paul Zabeo – before the operation Renzi bonus, the official tax burden in Italy was 43.7 percent. However, the overall weight that honest taxpayers bear is actually higher and has come to touch a record level of 50.2 percent. “The tax burden is in fact given by the ratio between the total amount of the levy (taxes, fees, taxes and social security contributions) and GDP that refers not only to the wealth produced in a year from regular activity, but also from that generated by submerged and from those illegal activities.

“It ‘clear that a similar tax burden – said the secretary Renato Mason – will be hard to find the momentum to give breath to the economy in a phase where growth remains very weak and uncertain. “

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Pope to Confindustria: Rejected dishonesty – TGCOM

 
 
 

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February 27, 2016

appeal to about 7 thousand entrepreneurs who attended the hearing in the Paul VI on the occasion of the Jubilee of the industry: “the companies put on the person”

 
 
 
 
 
 
 
 
 
 

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16:19 – Appeals for the Pope Francis to representatives of Confindustria , received audience , to take care of young . “Greater attention to potential workers, young people, prisoners of precariousness or unemployment , are not consulted by a work request – said – that gives them, in addition to a salary, even the dignity with which you sometimes feel deprived. ” To entrepreneurs: “ Reject recommendations and favoritism.”

At the heart of every business there must be the man: “Do not the abstract, ideal, theoretical, but the concrete, with his dreams, his needs, his hopes and his labors,” said the Pontiff to about 7 thousand of Confindustria entrepreneurs who have participated in ‘audience in the Paul VI on the occasion of the Jubilee of the industry.

“This attention to the concrete person – he added – has a number of important decisions: it means giving to each his own, snatching mothers and fathers anguish of the family can not give you a future and not even a present to their children; it means knowing how to direct, but also know how to listen, sharing with humility and trust projects and ideas; means making sure that the work you create another job, responsibility create other liability, hope creates other hope, especially for the younger generation, which now have more need than ever. “

audience historical – it is treated to a historic audience Confindustria Vatican. For the first time in 106 years of life of the association, in fact, entrepreneurs were received by Pope.

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The G20 calls for new support for growth: “We will use all the tools” – The Republic

MILAN – Brexit and refugee crisis: are two new fears to take the show on the table Great countries, so that updates the catalog of their concerns about the fragile economic growth, already undermined by the now old bogeys represented China and financial market volatility. For this, the commitment that comes out from the table of the G20 Shanghai at the end of two days of work focuses on the need to do everything possible to support economic growth. From the side of central bankers, still maintain a loose monetary policy; this will be accompanied by the second crutch of budgetary flexibility to conduct back to balanced growth.

Summarizing the work of the two-day meeting, Economy Minister Pier Carlo Padoan said that they discussed the policies needed to support the question and is open to the idea that “where there is fiscal space this is to be used for measures favorable to the growth, for example for investment expenditure which support both demand and the medium-term growth”. In short, a key on which Italy beats long. In the final text, preceded by rumors filtered from an Italian night, the G20 countries say they use “all policy instruments” as possible, including monetary, fiscal and structural, to strengthen economic confidence and “strengthen the recovery”. The top 20 economies of the world will implement all “policies in both individual and collective measures,” the statement said, in light of the fact that global growth is “uneven and below our ambitions.”

on the side of monetary policy, the Bank of Italy governor Ignazio Visco, has indeed remarked that “the measures of the ECB are not at the” end of the line, fueling expectations for the meeting of 10 March in which Mario Draghi is expected to announce a review of the plan purchase of government bonds. But the number one on Via Nazionale has also taken note of the fact that “the message at the end is to downside risks and growth that continues to be very reasonable. The problem is how to maintain it.” In any case, for Visco there is the risk of bubbles in the markets because “the system is stronger.” Always skeptical fellow German Jens Weidmann, who did not miss the opportunity to point out that “the ECB is not a panacea” for all the ills of the global economy.

After your moonlights of price lists and massive outflows of capital from China and emerging markets, the finance ministers of major economies say they agreed “to consult rapidly” and closely on what is happening in the currency markets, launching early alarms on the volatility that can damage the stability economic. Promises also came on the desire to closely monitor the flow of capital in order to anticipate possible shocks, while returns the call not to use competitive currency devaluations (which sounds particularly strong ear of Chinese hosts, although there ‘is no direct reference to issues related to the slowdown of Beijing and the change of the Asian giant’s economic policy).

As mentioned, these financial aspects will add new factors of tension. A possible Brexit (the exit of Britain from the EU as a result of the referendum) is one of the potential shocks that weigh on the global economy, which is recognized – in accordance with the early drafts from Bloomberg – in the final communiqué leaders: it is a victory of the British government, able to deploy so worldwide in favor of a stay in the Union by London. On this point, Padoan stated that “it is considered, if it were to lead – and I very much hope not – at an exit of Britain from the European Union, a shock which we classify under the heading of major geopolitical shock, so negative.” At Brexit, then, there is a crisis of migrants.

In short, there are plenty of points of concern. Only the opening session, on the other hand, the Organisation for Economic Co-operation and Development warned on stopping the global recovery. The OECD’s message to politicians was strongest when it came to emphasize the concern for the break in the reform process than that seen in the 2013-2014 season: in both advanced economies and emerging modernization of States suffered a backlash, last year. Rome, guaranteed Padoan: “Italy has made much progress on the structural but there is still much to do” but “it is obvious that the agenda of structural reforms must not stop, either in terms of implementation or any factors new to add. the debt is high and must be brought down, because a high debt that continues to grow is particularly fragile, “but the Italian debt” will begin to fall, is high but will decline. “

the interactive OECD to compare economies:

The G20 calls for new support for growth: “We will use all the tools” – The Republic

MILAN – Brexit and refugee crisis: are two new fears to take the show on the table Great countries, so that updates the catalog of their concerns about the fragile economic growth, already undermined by the now old bogeys represented China and financial market volatility. For this, the commitment that comes out from the table of the G20 Shanghai at the end of two days of work focuses on the need to do everything possible to support economic growth. From the side of central bankers, still maintain a loose monetary policy; this will be accompanied by the second crutch of budgetary flexibility to conduct back to balanced growth.

Summarizing the work of the two-day meeting, Economy Minister Pier Carlo Padoan said that they discussed the policies needed to support the question and is open to the idea that “where there is fiscal space this is to be used for measures favorable to the growth, for example for investment expenditure which support both demand and the medium-term growth”. In short, a key on which Italy beats long. In the final text, preceded by rumors filtered from an Italian night, the G20 countries say they use “all policy instruments” as possible, including monetary, fiscal and structural, to strengthen economic confidence and “strengthen the recovery”. The top 20 economies of the world will implement all “policies in both individual and collective measures,” the statement said, in light of the fact that global growth is “uneven and below our ambitions.”

on the side of monetary policy, the Bank of Italy governor Ignazio Visco, has indeed remarked that “the measures of the ECB are not at the” end of the line, fueling expectations for the meeting of 10 March in which Mario Draghi is expected to announce a review of the plan purchase of government bonds. But the number one on Via Nazionale has also taken note of the fact that “the message at the end is to downside risks and growth that continues to be very reasonable. The problem is how to maintain it.” In any case, for Visco there is the risk of bubbles in the markets because “the system is stronger.” Always skeptical fellow German Jens Weidmann, who did not miss the opportunity to point out that “the ECB is not a panacea” for all the ills of the global economy.

After your moonlights of price lists and massive outflows of capital from China and emerging markets, the finance ministers of major economies say they agreed “to consult rapidly” and closely on what is happening in the currency markets, launching early alarms on the volatility that can damage the stability economic. Promises also came on the desire to closely monitor the flow of capital in order to anticipate possible shocks, while returns the call not to use competitive currency devaluations (which sounds particularly strong ear of Chinese hosts, although there ‘is no direct reference to issues related to the slowdown of Beijing and the change of the Asian giant’s economic policy).

As mentioned, these financial aspects will add new factors of tension. A possible Brexit (the exit of Britain from the EU as a result of the referendum) is one of the potential shocks that weigh on the global economy, which is recognized – in accordance with the early drafts from Bloomberg – in the final communiqué leaders: it is a victory of the British government, able to deploy so worldwide in favor of a stay in the Union by London. On this point, Padoan stated that “it is considered, if it were to lead – and I very much hope not – at an exit of Britain from the European Union, a shock which we classify under the heading of major geopolitical shock, so negative.” At Brexit, then, there is a crisis of migrants.

In short, there are plenty of points of concern. Only the opening session, on the other hand, the Organisation for Economic Co-operation and Development warned on stopping the global recovery. The OECD’s message to politicians was strongest when it came to emphasize the concern for the break in the reform process than that seen in the 2013-2014 season: in both advanced economies and emerging modernization of States suffered a backlash, last year. Rome, guaranteed Padoan: “Italy has made much progress on the structural but there is still much to do” but “it is obvious that the agenda of structural reforms must not stop, either in terms of implementation or any factors new to add. the debt is high and must be brought down, because a high debt that continues to grow is particularly fragile, “but the Italian debt” will begin to fall, is high but will decline. “

the interactive OECD to compare economies: