Links for 2009-06-22

  • Debt threat in Italy | The Economist – (…) «As a result, he [Draghi] added that there was a danger that the Italian economy would be burdened by extremely high levels of taxation for many years to come, which would dampen future economic growth, making it difficult to pay down the government debt. He called for urgent reforms to cut public spending to be able to reduce taxation, improve growth potential and pay down government debt»;
  • Fear the Dark Side of China’s Lending Surge | Caijing.com – E tanti auguri per il risveglio: «There’s little doubt that China’s bank lending since last December has driven speculative inventory demand for commodities. Chinese banks lend for commodity purchases, allowing the underlying commodities to be used as collateral. These loans are structured like mortgages»;