Italy owes to central bank a record amount

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/Reuters

According to the Bank of Italia, domestic banks sold ECB bonds worth в‚¬41.3 bn euros in June, в‚¬104.7 bn in September and в‚¬111.3 bn in October. The five biggest bond issuers are Banco Popolare SC, Intesa Sanpaolo, Banca Monte dei Paschi di Siena SpA, UBI Banca ScpA and UniCredit SpA. They account for 61% of Italy's bonds sold to ECB. Italy's total debt of $ 2 trillion is bigger than that of Greece, Portugal, Ireland and Spain combined.

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Fri, 11 Nov 2011 08:40:24 GMT

Obama says he is the first US Pacific president

President Obama urges Americans to pay more attention to Asia and also to reason as Asians do.  Obama is going to promote Pacific orientation by participating in East Asia Summit and in Asia-Pacific economic cooperation summit. In his previous speeches President has pointed out spending by South Korea, China and other countries on infrastructure and education as good examples of creating jobs and stimulating growth.

Fri, 11 Nov 2011 16:31:03 GMT

Exorbitant cost of Italy’s borrowings impacts global share indexes

Yields on 10-year Italian bonds achieved 7.28%; rate considered as unsustainable. Concerns about Italy's debt crisis grew impacting the global economy. Asian stock market indexes fell-Japan's Nikkei index dropped by 2.9% while Hong Kong's Hang Seng index decreased by 5.3%. European market proved to be more resilient-Germany's DAX index increased by 0.22%, and the French CAC 40 index went up by 0.4%.

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