A Right and Proper Death of the Euro When the proposal was initially made for a common European currency, it seemed to be a good idea. Although inexpert in economics, it struck me as an effect of a false analogy with the United States that was common in Europe at that time
I am not writing this to pile on two Harvard economists who put the Western world into economic mess. I am concerned about the policy professionals who accept such economic propositions even when they seem self-evidently too good to be true and defy common sense
After years of brutal austerity, collapsing economies, widespread unemployment, and shredding of the social safety net, Italians said 'basta!' Enough!
The European Union has voiced concern about low fertility as a major demographic challenge. If it stays at these low levels, the population quickly moves from growth to decline, which is already happening in Germany, despite immigration
Lega Serie A has fined Inter Milan 50,000 euros after some of its fans directed racial taunts at AC Milan striker Mario Balotelli. Several supporters were also seen waving inflatable bananas
The global financial crisis has slowly yielded to a global unemployment crisis. This unemployment crisis will give way to a political crisis. The crisis involves all three of the major pillars of the global system -- Europe, China and the United States
The Italian police have made a significant breakthrough in the investigation into the global soccer match-fixing network with the arrest of a key suspect behind the alleged rigging of some 680 worldwide matches
An Italian court confirmed a one-year prison sentence against ex-premier Silvio Berlusconi by upholding his tax fraud conviction. This will make him face a five-year ban from public office.
"The court confirms the sentence against Silvio Berlusconi," a Milan judge said in a live audio feed. The ex-premier is now likely to appeal against the ruling at the highest court in the country in hope that it would suspend his punishment pending in a final ruling in the Mediaset business empire case, trial of which began seven years ago.
Talking to reporters, Berlusconi's defence lawyer Niccolo Ghedini said, "We knew it would go like this. I do not think there is a connection between this verdict and political stability."
Berlusconi may never go to a jail despite the upholding of convictions thanks to the slow Italian justice systems and lenient prison sentences for culprits about 70 years of age.
Former Italian Prime Minister Giulio Andreotti, who led the European nation seven times between 1972 and 1992, died at his residence in Rome. He was 94.
Andreotti led the Christian Democrat party in the post-war Italy for several decades. In his later years, he faced allegations of Mafia links and corruption.
He reportedly died of a heart attack. Andreotti was also suffering from respiratory problems in recent years.
Describing Andreotti as most representative politician in the country's recent history, Rome's Mayor Gianni Alemanno expressed regrets for his death.
U.S. student Amanda Knox's nightmare came true when Italy's highest appeal court cancelled her acquittal over the 2007 brutal murder of her British roommate Meredith Kercher - a case that had hit headlines across the world.
The court has now ordered a retrial for Knox and her former Italian boyfriend Raffaele Sollecito in a Florence court. However, no dates have been released after the hearings.
The duo had spent four years in prison in Italy over the case and was released in 2011 after Perugia court freed them from charges on appeal.
Earlier, they had been sentenced to up to 26 years of imprisonment.
Responding to the court's verdict, 25-year-old Knox denied her involvement in the case, adding that the news was very painful.
She added, "The prosecution's theory of my involvement in Meredith's murder has been repeatedly revealed to be completely unfounded and unfair". "No matter what happens, my family and I will face this continuing legal battle as we always have, confident in the truth and with our heads held high in the face of wrongful accusations and unreasonable adversity," she said in a statement.
Talking to reporters outside Rome court, Knox's lawyer Carlo Dalla Vedova said that Seattle student is willing to fight.
Rome court is likely to hear Knox's trial in absentia, since she returned to the U.S. immediately after her release in 2011. If convicted, Italy might seek her extradition.
However, the U.S. might not extradite her, as the U.S. law doesn't allow retrial of a defendant for the same crime. Moreover, the U.S. doesn't hand over its citizens to other countries to face legal actions.
AC Milan vice president Paolo Berlusconi's racist slur against Mario Balotelli caused an outrage in Italy. Berlusconi was attending a political rally when he made the comments that were caught on video
AC Milan has reached an agreement with Manchester City to acquire troubled Italian striker Mario Balotelli. Milan has reportedly paid $27 million to get Balotelli
An Italian court in Milan has rejected a request by former Prime Minister Silvio Berlusconi to suspend his sex scandal trial
Italians ruled at the Royal Artillery Barracks with Niccolo Campriani winning the men's 50m rifle 3-positions gold with an Olympic record to boot
As I wandered Venice's meandering streets and canal-side walkways, it became obvious just how much the city is changing. Tourism continues to keep Venice afloat
Nearly every step towards total union has revealed still more of the inherent factors of disunity in Europe and has dramatized how distant 'Europe' has become from the simple and lucid ambitions of its origins
The European Union is at risk of being destroyed by the euro. The credit crisis has created divisions in Europe which are undermining what was supposed to be mutual confidence and solidarity
American midfielder Michael Bradley has officially joined Serie A powerhouse A.S. Roma after signing a four-year deal with the Italian club
Throughout the Euro crisis, the Euro elite has suffered from the same inability to imagine failure that led to August 1914. Even days before the outbreak of war, it was thought impossible because the consequences would end the system
With Germany enjoying historic lows in unemployment, why is she resisting calls to open her purse strings to help the eurozone's floundering members? It is worth examining why Germans see things differently
Italy barged into the semifinals of the European Championship after beating England, 4-2, via penalty shootout
Defending champion Spain needed a late goal from substitute Jesus Navas to knock out Croatia, and advance to the quarterfinal round. Italy also advanced by blanking Ireland, 2-0
In what could clear the clouds of political uncertainty, former Italian Prime Minister Silvio Berlusconi withdrew his leadership bid and revived his PDL party's alliance with the far-right Northern League
Italy has more of Europe's cultural heritage than any other country -- and the Italians are doing a fine job of sharing it with their visitors. Here is the latest, gleaned from my guidebook research for 2013
The euro crisis is now threatening to turn the European Union into something fundamentally different. The member countries are divided into two classes -- creditors and debtors -- with the creditors in charge
Seventeen economically disparate nations bound their fortunes together in creating the euro zone, and it is exactly this that has thrown the European project into crisis
At peak moments, sport, which can bring millions of joyful citizens on to the streets in celebration of World Cup successes, has shown itself capable of transforming the very idea of a nation and its politics
Italy's bronze medal at the London Olympics was their first in a major tournament since silver at Athens 2004 and the aim is to build a new period of dominance in men's volleyball
Italy could not fulfil their dream of gold in London but were still happy to claim their fifth Olympic medal after edging Bulgaria 3-1 in the Men's Volleyball Bronze Medal Match
The much awaited quarterfinals of the men's Olympic tournament eventually ended in four straight-set victories for Brazil, Italy, Russia and Bulgaria
You can learn a lot about Europe's current economic crises by just ignoring the sophisticated barrage of news analysis and instead watching, listening, and talking to people
All over Europe, the gospel is that tight-fisted Germans are at the root of the European Union meltdown: They worked too hard, saved too much, bought too little and borrowed not at all
Economists continue inveighing against austerity strategies. But none of them seem capable of explaining in plain, simple language why imposing austerity now is utterly foolhardy -- in fact, just plain stupid
Rather than yield a positive result, Spain's false nine formation backfired as the reigning European champion was held to a 1-1 draw by Italy in the opening match of European Championship 2012 Group C
Like ghosts from the past, we see political violence, xenophobia, migrants being scapegoated and extreme nationalism creeping into our public debates -- even into our parliaments. This is a Europe diverging from its founding principles
I returned to the Cinque Terre to check in on the rebuilding efforts and visit old friends. Both times, I was amazed by the progress and moved by the locals' devotion to restoring their little chunk of Mediterranean paradise
The Nobel Committee recently awarded its prestigious top prize to 500 million people who have, for the last 65 years, made a conscious decision to live together in peace and harmony: the European Union
Spain reasserted its lofty place in football hierarchy after hammering out a 4-0 victory over Italy in the finals of 2012 Euro Championship at Kiev Olympic Stadium
The Italians face the Spaniards in the UEFA Euro 2012 Championship Finals in Kiev, Ukraine. Their first encounter in Group C ended in a 1-1 draw
Striker Mario Balotelli scored twice in the first half as Italy continued its mastery over Germany with a 2-1 win to advance to the European Championship final for the first time since 2000
When I visit Rome, I get a thrill walking on the same stones as Julius Caesar or St. Peter. Huge basalt paving blocks form the sturdy base of this roadway
If the eurozone splinters, it will have been an avoidable disaster. The choice lies with Germany, which can save the monetary union if it allows for policies aimed at debt relief and growth, not just slashing deficits
Over the past two years, the eurozone members have done a remarkable job managing the short-term symptoms of the crisis, although the costs have been great. Yet the long-term challenge remains
The ancient city of Pompeii -- famously ruined in A.D. 79 when mighty Mount Vesuvius blew its top -- is one of Italy's most popular tourist attractions
Despite short-term improvements, long-term problems will hamper Italy's efforts to escape its economic crisis
Europe's new fiscal compact treaty attempts to force regional reform without challenging sovereignty
Of all the Italian hill towns, Civita di Bagnoregio is my favorite. Less well-known than Siena or Assisi, this stunning little gem has escaped the modern age mostly because of topography
While Europe panicked about Greece, Italy drew closer to the brink of economic ruin. No one was paying attention while Rome was burning. Until recently
Even before the financial sector and sovereign debt crisis began to destabilise Europe's banking system, European leaders were voicing fears that the Old World might be slipping towards global irrelevance
Prime Minister Mario Monti announced his new government has plans to get Italy out of its recession while calling on other nations to mount a 'united response' to the eurozone debt crisis
2012 could be the make-or-break moment for the embattled eurozone.
With Italy's debt ballooning to over $1.5 trillion, some leaders are now asking if the country has reached a point of being beyond rescue. The offer by Italian Prime Minister Silvio Berlusconi to resign from his post had failed to slow down the financial turmoil
At the heart of this particular crisis is the unpleasant fact that the common European currency project is, in its present form, simply not working
The stage is set for the 2012 Euro Cup following Friday's draw that saw host Poland and Ukraine getting the top draws while Spain placed in a tougher group. Poland was drawn in Group A along with Greece, Russia, and Czech Republic
The European Union is presently a source of great instability that leaders have yet to tackle. This column argues the current policy response is misguided. The adjustment programmes are bound to fail to achieve sustainable budget deficits, and may result in an unprecedented destruction of economic activity
If you want the real reason for concern in the United States about what's happening in Europe, follow the money. A Greek (or Irish or Spanish or Italian or Portuguese) default would have roughly the same effect on our financial system as the implosion of Lehman Brothers in 2008. That is, financial chaos
Repressive regimes of the Middle East and North Africa had all the equipment they needed to quash Arab Spring protests, thanks to arms exporters
The snowballing global campaign against corporate greed has reached Europe, particularly the capital cities of London and Rome
Both continue to grapple with slow economic growth, the crushing weight of enormous public debt, and austerity measures designed to trim government expenditures. But many of the similarities between the debt-ridden EU and the US end there
The euro should now be recognized as an experiment that failed. The political goal of creating a harmonious Europe has also failed
A total of 17 people have been arrested in an investigation into match-fixing and illegal betting on matches
EU leaders announced a new plan to contain the debt crisis in the euro area, after private banks and investors agreed to write off 50% of Greek debt from their books
Conventional wisdom has it that the eurozone cannot have a monetary union without also having a fiscal union. Euro-enthusiasts see the single currency as the first steppingstone toward a broader economic union, which is their dream. Euroskeptics do, too, but they see that endgame as hell -- and would prefer the single currency to be dismantled
European Union leaders have brokered a deal to reduce Greece's debt and hopefully stem the continent's lingering debt crisis. The deal is a major move forward, but it is still only one step in restoring stability on a continent beset by economic woes
Volterra and San Gimignano are two stony villages dotting the hills of Northern Tuscany. Within a couple of hours of Tuscan mainstays Florence and Siena, these towns provide an emblematic but contrasting look at this famed region
The plans all are financial solutions to a particular set of financial problems. But regardless of whether they are realistic in addressing the financial problem, the question of whether the financial issue really addresses the fundamental dilemma of Europe -- which is political and geopolitical -- remains
Standard & Poor's downgraded the credit rating of Italy to A from A+ and kept it on a negative outlook
Albania needs to calm its problems at home in order to move on the European integration, ministers say
Ties between Libya and Italy's elites are very, very deep, and, as benefiting the lives of the rich and famous, sometimes produce strange little stories that illustrate much larger forces at work -- in this case, the economic future of Libya moving forward
What doesn't change about Italy is that it's always changing. In Rome, the Colosseum is being cleaned from top to bottom and given permanent lighting
The crisis won't be over until the underlying flaw of the euro is fixed -- namely the separation of monetary and fiscal policy. German public opinion has to realise that the euro was built on imperfect foundations and that these imperfections must be corrected. Meanwhile, the Italian president of the ECB will need all his technical and political expertise to keep the Eurozone together
It was short-term good news in that it defused 'the bomb' -- the possible catastrophe vortex of failing banks and defaulting sovereigns. The bad news is that it will induce a recession. Banks will create a credit crunch in trying to meet capital adequacy ratios, and the new austerity will create a fiscal contraction
Italian Prime Minister Silvio Berlusconi prefers to have European Central Bank (ECB) Executive Board Member Lorenzo Bini Smaghi as the next governor of the Bank of Italy
As Italy's Prime Minister Silvio Berlusconi announces a new austerity bill based on tax rises, this column argues that the country's leaders are in denial -- it is as if they are trying to take aspirin to hide the symptoms of pneumonia
Europe was seen as a work in progress moving inevitably toward unification -- a group of nations committed to a common fate. What was a core vision in 2008 is now gone. What was inconceivable -- the primacy of the traditional nation-state -- is now commonly discussed, and steps to devolve Europe in part or in whole are being contemplated. This is not a trivial event
There's a revolution taking place in the eastern Mediterranean and it's all about oil ... olive oil
A new round of second-quarter GDP figures shows slowing growth in the EU, which makes for a complicated economic situation, as reduced government spending can further stifle growth. Some economists say that, in tackling this dilemma, European governments are focusing too closely on their balance sheets and neglecting to propose real growth policies
The latest fear is that the sovereign-debt crisis could spread to Italy -- one of the largest but weakest economies in the European Union
The Italians did not build on mountain tops for the view. What is picturesque now was safe haven from the barbarians back then. Except, the barbarians are back, only this time they are not tribes with scary names like Goths, Huns and Lombards. Today the brutes have bland sounding labels like the International Monetary Fund (IMF), the European Union (EU) and Moody's
Austerity measures will be felt primarily by a lower middle-class already tested by the ever-growing divide between rich and poor in Italy. But the bleak political prospect goes well beyond the sense of panic caused by the economic and financial problems which beset the country.
I'd spent the whole afternoon in my hotel room, splicing changes into the next edition of my guidebook. It was time for just a quick little break, but stepping outside was dangerous. There was a strong current out there, and I got swept out into a Roman sea filled with colorful -- and fragrant -- distractions. I didn't get back for hours
There are few more beautiful places in the world than the Amalfi Coast. Ancient villages vie with lemon groves for the prime real estate on the cliffs, with views that take you over the rooftops, through the fresh laundry flapping in the breeze, out to the blue sea. Truly gorgeous
The European Union, like the 19th-century Congress of Vienna, can point to one achievement -- a general absence of war in Western Europe for more than 60 years. Otherwise, almost all its socialist promises of an equality of result are imploding before their eyes
Though frequently called the Tuscany of the North of Italy, the Oltrepo Pavese in Lombardy is fairly unknown abroad. Tourists pass the area closely when travelling to the real Tuscany, to Umbria or further south. This is a pity as the Oltrepo really offers something worthwhile for almost every tourist, especially food and wine lovers
Flamboyance of the Latin kind gets you into the newspapers, but for bad reasons as well as good. Italy's Silvio Berlusconi is a success in politics apparently because the majority of Italians like him.
Italy Current Events - News in Italian