European Debt Crisis_China Economic Net

Italian experts warn of recessive austerity, stress structural reforms

Italian economists warned of recessive effects of austerity and called for reforms in the country struggling for the formation of a new government to replace the technocratic cabinet of outgoing Prime Minister Mario Monti.

·	Moody's keeps negative outlook for Spanish banks

·	Greece raises 1.3 bln euros in fresh treasury bills auction

·	Portugal allowed to revise deficit targets

·	EU asks Spain to rise sales tax

·	Spain's consumer confidence remains low

·	Spain's unemployment passes 5 million mark

·	Eurogroup approves 7.5-bln-euro bailout tranches for Greece
·	Greece reaches deal with troika lenders on further bailout aid
·	Jobless man dies after self-immolation in Athens
·	Greece expects deal for further bailout aid
·	Greece raises 1.3 bln euros in fresh treasury bills auction

·	Portugal's GDP shrinks 3.9 pct in Q1
·	Portugal successfully sells 10-year bonds since bailout
·	Portuguese hold massive May Day rally
·	Portuguese gov't announces 800-mln-euro spending cuts
·	Portuguese protest against austerity measures

Spain

·	Spanish unemployment falls in June
·	Spain to cut 8 bln euros in administration reforms in 2014-2015
·	Spanish PM does not rule out new cuts
·	Faster European integration needed: Spanish PM Rajoy
·	Spain's fishing company Pescanova to file for insolvency

·	Euro crisis still biggest threat to German economy: central banker

·	Will Spain's political crisis affect confidence in its economy?

·	Austerity cannot solve Greek debt crisis: German chancellor candidate

·	Euro crisis may be over by year-end: German expert