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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 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
·	Portugal allowed to revise deficit targets

·	Ireland issues warning on phone calls offering refunds
·	Ireland's gov't debt ranks 4th highest ratio in EU: Eurostat
·	Ireland's employers group cuts economic outlook
·	Ireland's deficit more than halves to 13.4 pct in 2011
·	Ireland needs foreign direct investment for economic revival

Spain

·	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
·	Moody's keeps negative outlook for Spanish banks

·	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

·	ECB policymaker: Greek debt deal "better than other alternatives"

·	Collapse of Greece bailout talks casts new doubts on EU's future

·	Europe determined to overcome crisis: Italy's president

·	Global Financial Turmoil
·	UN Climate Change Conference
·	US Economy Falters
·	High-Speed Rail in China
·	G20 Seoul Summit