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Italian Government Debt
The Italian government debt is the public debt owed by the government of Italy to all public and private lenders. This excludes unfunded state pensions owed to the public. , the Italian government debt stands at €2.1 trillion (131.1% of GDP). Italy has the lowest share of public debt held by non-residents of all eurozone countries and the country's national wealth is four times larger than its public debt. Composition The Italian public debit is in 2017 owned by the private sector only for the 6% of the total amount. This percentage decreased significantly from 1988, where this share was 57%. Main holders of Italian public debt in June 2019 (Bank of Italy statistics) are: households= 4.4%, Italian banks= 30.6% (which includes a 12.8% share of public debt made of bank loans to local administrations), Italian insurance companies= 13.7%, investment funds (with mainly Italian beneficiaries)= 13.2%, foreign (banks, insurance, etc.)= 20%, Eurosystem (Bank of Italy through li ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Debt
A country's gross government debt (also called public debt or sovereign debt) is the financial liabilities of the government sector. Changes in government debt over time reflect primarily borrowing due to past government deficits. A deficit occurs when a government's expenditures exceed revenues. Government debt may be owed to domestic residents, as well as to foreign residents. If owed to foreign residents, that quantity is included in the country's external debt. In 2020, the value of government debt worldwide was $87.4 US trillion, or 99% measured as a share of gross domestic product (GDP). Government debt accounted for almost 40% of all debt (which includes corporate and household debt), the highest share since the 1960s. The rise in government debt since 2007 is largely attributable to stimulus measures during the Great Recession, and the COVID-19 recession. Governments may take on debt when the government's spending desires do not match government revenue flows. Taking deb ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Poste Italiane
Poste Italiane (, , abbr. PT) is the Italy, Italian postal service provider. Besides providing postal services, Poste Italiane offers communications, Postal savings system, postal savings products, logistics, and Financial services, financial and insurance Service (economics), services throughout Italy. History 1862 – 1990 Law no. 604 of 5 May 1862 (the so-called Postal reform) created a national and centralised organisation for postal service by introducing a general fee to pay for services, including postal stamps, throughout the entire territory of the newly formed kingdom of Italy. Subsequently, with Royal Decree 5973 of 10 March 1889, the Directorate General of Posts and Telegraphs was separated from the Ministry of Public Works and thus turned into the Ministry of Posts and Telegraphs. It was commissioned to create a network of offices in Italy to forward and receive mail and telegrams, make and receive telephone calls, carry out financial transactions, and manage assets ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Debt By Country
A government is the system or group of people governing an organized community, generally a state. In the case of its broad associative definition, government normally consists of legislature, executive, and judiciary. Government is a means by which organizational policies are enforced, as well as a mechanism for determining policy. In many countries, the government has a kind of constitution, a statement of its governing principles and philosophy. While all types of organizations have governance, the term ''government'' is often used more specifically to refer to the approximately 200 independent national governments and subsidiary organizations. The main types of modern political systems recognized are democracies, totalitarian regimes, and, sitting between these two, authoritarian regimes with a variety of hybrid regimes. Modern classification systems also include monarchies as a standalone entity or as a hybrid system of the main three. Historically prevalent forms ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of Italy
The government of Italy is that of a democratic republic, established by the Italian constitution in 1948. It consists of Legislature, legislative, Executive (government), executive, and Judiciary, judicial subdivisions, as well as of a head of state, known as the President of Italy, president. The Constitution of Italy, Constitution of the Italian Republic is the result of the work of the Constituent Assembly of Italy, Constituent Assembly, which was formed by the representatives of all the Anti-fascism, anti-fascist forces that contributed to the defeat of Nazism, nazis and the fascist forces during the Italian Civil War. Article 1 of the Italian constitution states: By stating that Italy is a democratic republic, the article solemnly declares the results of the 1946 Italian institutional referendum, institutional referendum which took place on 2 June 1946 valid. The Italy, state is not the hereditary property of the King of Italy, ruling monarch, but instead a ''res publica' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eurozone Crisis
The euro area crisis, often also referred to as the eurozone crisis, European debt crisis, or European sovereign debt crisis, was a multi-year debt crisis and financial crisis in the European Union (EU) from 2009 until, in Greece, 2018. The eurozone member states of Greece, Portugal, Ireland, and Cyprus were unable to repay or refinance their government debt or to bailout fragile banks under their national supervision and needed assistance from other eurozone countries, the European Central Bank (ECB), and the International Monetary Fund (IMF). The crisis included the Greek government-debt crisis, the 2008–2014 Spanish financial crisis, the 2010–2014 Portuguese financial crisis, the post-2008 Irish banking crisis and the post-2008 Irish economic downturn, as well as the 2012–2013 Cypriot financial crisis. The crisis contributed to changes in leadership in Greece, Ireland, France, Italy, Portugal, Spain, Slovenia, Slovakia, Belgium, and the Netherlands as well as in t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Italian Welfare State
The Italian welfare state is based partly upon the corporatist-conservative model (as described by Gøsta Esping-Andersen, one of the world's foremost sociologists working on the analysis of welfare states) and partly upon the universal welfare model. Main features Health care In 1978, a health reform introduced the National Health Service ( Servizio Sanitario Nazionale – SSN). The SSN is a public and universalistic system aimed at guaranteed healthcare for all citizens. It was planned to be an entitlement and was not means-tested. Later, the financial situation urged to introduce user charges in order to avoid wastages, even if this might lead to inequalities, and means-testing for common tests and medicine. In 1992 a major reform allowed citizens to pay higher fees in order to receive private services within the SSN; by this way, public spending decreased. Today the SSN is financed both by direct taxes and by the revenues of the local health agencies, made by partial ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taxation In Italy
Taxation in Italy is levied by the central and regional governments and is collected by the Italian Agency of Revenue (Agenzia delle Entrate). Total tax revenue in 2018 was 42.4% of GDP. The main earnings are income tax, social security, corporate tax and value added tax. All of these are collected at national level, but some differ across regions. Personal income taxation in Italy is progressive. Income tax Employment income is subject to a progressive income tax, IRPEF (''Imposta sul reddito delle persone fisiche'') applying to all workers. The government sets the tax rate according to income, but the regions can add an additional 0.7 percent to 3.33 percent. In addition to the regional income tax, a municipal income tax can be levied which ranges from 0.1 percent to 0.9 percent. Municipalities can also establish progressive tax rates applicable to the national income bracket. In 2022, the personal income tax rates were as follows: Individuals are considered resident for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banca D'Italia
The Bank of Italy (Italian language, Italian: ''Banca d'Italia'', , informally referred to as ''Bankitalia'') is the National central bank (Eurosystem), national central bank for Italy within the Eurosystem. It was the Italian central bank from 1893 to 1998, issuing the Italian lira, lira. Since 2014, it has also been Italy's national competent authority within European Banking Supervision. It is located in Palazzo Koch, via Nazionale (Rome), via Nazionale, Rome. History The institution was established in 1893 from the combination of three major banks in Italy (after the Banca Romana scandal).Alfredo Gigliobianco and Claire Giordano"Economic Theory and Banking Regulation: The Italian Case (1861-1930s)" ''Quaderni di Storia Economica'' (''Economic History Working Papers''), No. 5, November 2010 The new central bank first issued banknotes during 1926. Until 1928, it was directed by a general manager, after this time instead by a governor elected by an internal commission of manager ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mario Monti
Mario Monti (; born 19 March 1943) is an Italian politician, economist and academic who served as the Prime Minister of Italy from 2011 to 2013, leading a Technocratic government (Italy), technocratic government in the wake of the European sovereign-debt crisis#Italy, Italian debt crisis. Monti served as a European Commissioner from 1995 to 2004, with responsibility for the European Commissioner for Internal Market and Services, Internal Market, Services, European Commissioner for Taxation and Customs Union, Audit and Anti-Fraud, Customs and Taxation from 1995 to 1999 and for European Commissioner for Competition, Competition from 1999 to 2004. Monti has also been rector and president of Bocconi University in Milan for many years. On 12 November 2011, in the midst of the European sovereign debt crisis, Monti was invited by President Giorgio Napolitano to form a new technocratic government following the resignation of Silvio Berlusconi. Monti was sworn in as prime minister on 1 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of Italy
The government of Italy is that of a democratic republic, established by the Italian constitution in 1948. It consists of Legislature, legislative, Executive (government), executive, and Judiciary, judicial subdivisions, as well as of a head of state, known as the President of Italy, president. The Constitution of Italy, Constitution of the Italian Republic is the result of the work of the Constituent Assembly of Italy, Constituent Assembly, which was formed by the representatives of all the Anti-fascism, anti-fascist forces that contributed to the defeat of Nazism, nazis and the fascist forces during the Italian Civil War. Article 1 of the Italian constitution states: By stating that Italy is a democratic republic, the article solemnly declares the results of the 1946 Italian institutional referendum, institutional referendum which took place on 2 June 1946 valid. The Italy, state is not the hereditary property of the King of Italy, ruling monarch, but instead a ''res publica' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Silvio Berlusconi
Silvio Berlusconi ( ; ; 29 September 193612 June 2023) was an Italian Media proprietor, media tycoon and politician who served as the prime minister of Italy in three governments from 1994 to 1995, 2001 to 2006 and 2008 to 2011. He was a member of the Chamber of Deputies (Italy), Chamber of Deputies from 1994 to 2013; a member of the Senate of the Republic (Italy), Senate of the Republic from 2022 until his death in 2023, and previously from March to November 2013; and a member of the European Parliament (MEP) from 2019 to 2022, and previously from 1999 to 2001. With a net worth of US$6.8 billion in June 2023, Berlusconi was the third-wealthiest person in Italy at the time of his death. Berlusconi rose into the financial elite of Italy in the late 1960s. He was the controlling shareholder of Mediaset and owned the Italian football club AC Milan from 1986 to 2017. He was nicknamed ''Il Cavaliere'' ('The Knight') for his Order of Merit for Labour; he voluntarily resigned f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bond Market
The bond market (also debt market or credit market) is a financial market in which participants can issue new debt, known as the primary market, or buy and sell debt security (finance), securities, known as the secondary market. This is usually in the form of bond (finance), bonds, but it may include notes, bills, and so on for public and private expenditures. The bond market has largely been dominated by the United States, which accounts for about 39% of the market. In 2021, the size of the bond market (total debt outstanding) was estimated to be $119 Trillion (short scale), trillion worldwide and $46 trillion for the US market, according to the Securities Industry and Financial Markets Association (SIFMA). Bonds and bank loans form what is known as the ''credit market''. The global credit market in aggregate is about three times the size of the global equity market. Bank loans are not securities under the U.S. Securities and Exchange Act, but bonds typically are and are therefore ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
