Euro Tumbles As Italy Slashes Growth Expectations

Tyler Durden's picture

The Euro is tumbling as Italy slashes economic growth expectations:

  • *BANK OF ITALY SEES ITALY GDP UP 0.2% THIS YR, 1.3% IN 2015
  • *BANK OF ITALY SEES DOWNSIDE RISKS FOR ITALY GROWTH EST. THIS YR

The Bank of Italy expected 0.7% growth for 2014 in January and this shift lowers the estimate below consensus. Of course, there's no need to wqory about a triple-dip recession as Italy raised its 2015 estimate from 1.0% to 1.3% - hockey sticks are back...

 

Bank of Italy slashes 2014 growth expectations...

 

and that resulted in what Draghi could not manage...