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Sorrentino, Riccardo

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3 articles of this author have been cited in the European Press Review so far.

Il Sole 24 Ore - Italy | 24/08/2010

Greece battles its way out of the crisis

The European Commission has voted in favour of giving Greece a second instalment of financial aid. Greece has made it through the worst of the crisis, the business paper Il Sole 24 Ore writes, but foresees further challenges for Athens: "Greece is now a little more lonely. It has secured itself another instalment, but at this most difficult time in its restart effort it is no longer the centre of attention. ... In the name of more competitiveness it must now put pressure on those in power who have so far been protected by politics. De te fabula narratur [the same goes for you], the Greeks could say. Because not only Germany should be urged to follow the same recipe. ... Economic ties always have two sides. Greece's dependency on German savings ... corresponds to Germany's dependence on the consumption of deficit countries which are indeed living above their means."

Il Sole 24 Ore - Italy | 17/06/2010

EU summit aims to soothe market fears

The EU heads of state and government want to toughen the euro Stability Pact provisions and so increase pressure on countries that overstep the deficit limit. But panic is a poor adviser, the business paper Il Sole 24 Ore warns: "Euroland has lost control of the situation. The financial markets, frightened and trapped in the net of Greece's huge lies about its public finances, are demanding drastic solutions that however don't appear to take account of the long-term effects of the rescue packages: the possible slowing of already anaemic growth and the genuine danger of a second recession. ... The pressure and panic of the markets are terrifying everyone. So whether they like it or not governments are being forced to resort to austerity measures that run the danger ... of being motivated by the sole desire to hold out against the pressure of ten thousand lobby representatives. The temptation to make cuts at random is great."

Il Sole 24 Ore - Italy | 14/08/2009

Investments still weak

Commenting on the upturn registered in the Eurozone the business newspaper Il Sole 24 Ore writes: "Surprise, surprise! Germany and France are growing again. And not just starting today but since the spring: their second quarter GDP is unexpectedly in the plus. But in reality not everyone is surprised by this. … Although it wasn't really equipped to deal with the problem ultimately the Eurozone's response was better than that of the US. … The overall GDP of the monetary union has only gone down by 0.1 percent (0.4 percent at an annualised rate). This figure conceals widely diverging trends within the Union and shows a partial north-south divide within the Eurozone: the growth in France and Germany stands in contrast to the 0.5 percent drop (-1.9 percent at an annualised rate) in Italy and the estimated 1 percent drop (- 4.1 percent at an annualised rate) of Spain. … As soon as the data is complete we will see whether this upswing is healthy and to what extent. The weak point continues to be investments: they have shrunk everywhere except perhaps in Germany."

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