Budget law, tightens on amendments. Markets between SMEs and central banks
MILAN – The works on Budget Law I’m in the middle of the week that’s about to open. The deadline for filing amendments in committee is Tuesday. The Majority, he explained in recent weeks, should not present proposals so only those from the opposition could arrive even if it is not yet ruled out that the executive will eventually present its own maxi amendment.
Busy agenda of meetings this week for the Minister of Economy Giancarlo Giorgetti. He will meet his Finnish counterpart on Monday Pure Riikkathe French minister on Tuesday Bruno Le Maire in Paris, and on Thursday the Croatian Finance Minister, Marko Primorac.
Tax, two new amnesties appear. And on the government’s hard-line maneuver: only changes at no cost
by Giuseppe Colombo
On the financial side, in the euro area, the PMIs of France, Germany, the Eurozone and the United Kingdom were under scrutiny on Thursday and, the following day, the national surveys Ifo in Germany, Insee in France and Bnb in Belgium, in addition to the preliminary data on consumer confidence from the Commission on Wednesday 22nd while the opinion of the European Commission on the Budget Plans is expected the day before.
Central banks still under scrutiny. The intense flow of speeches by ECB board members will continue with President Christine Lagarde expected to speak on 21 November in Berlin and 23 November in Frankfurt. The minutes of the European Central Bank meeting in October will also be published on Thursday, preceded on Tuesday by those of the Fed from the meeting of November 1st.
Appointments of the week
MONDAY 20 NOVEMBER
– Mef: Minister Giancarlo Giorgetti meets the Finnish Finance Minister, Riikka Purra.
– Air transport: technical table at Mimit.
– Proxigas: public meeting. Participating, among others, are the Minister of Business and Made in Italy, Adolfo Urso, and that of the Environment and Energy Security, Gilberto Pichetto Fratin.
– Mimit: Minister Adolfo Urso speaks at the event “Frontier technologies and Made in Italy”.
– ECB: the chief economist, Philip Lane, participates in the VI annual Cebra meeting.
– Germany: producer prices in October.
TUESDAY 21 NOVEMBER
– Istat: real estate market, sales and mortgages from notary sources in the first quarter.
– Road safety: conference “Objective of zero victims”.
Participating, among others, is the Minister of Infrastructure and Transport, Matteo Salvini.
– Maneuver: the deadline for filing amendments in the Senate Budget Committee expires.
– Asvis: Asvis Live event. Participating, among others, is the Deputy Minister of Economy, Maurizio Leo.
– Wolters Kluwer: Sustainability Forum. Participating, among others, is the Deputy Minister of Economy, Maurizio Leo.
– Mef: Minister Giancarlo Giorgetti meets the French Finance Minister, Bruno Le Maire, in Paris.
– Confartigianato: assembly.
– Cars: registrations in Europe in October, Acea data.
– ECB: President Christine Lagarde speaks at a panel for the 100th anniversary of the German currency reform of 1923.
– ECB: member of the board of directors, Isabel Schnabel, speaks at the University of Wurzburg.
– USA: sale of existing homes in October.
– USA: Fed, FOMC minutes.
WEDNESDAY 22 NOVEMBER
– Istat: production in construction in September.
– Confindustria: “The tunnel factor” event in Courmayeur with president Carlo Bonomi.
– Conftrasporto: VIII International Forum kicks off. Participating, among others, are the Minister of the Environment and Energy Security, Gilberto Pichetto Fratin, and the Minister for Civil Protection and Maritime Policies, Nello Musumeci.
– Energy bank: event with the Minister of the Environment and Energy Security, Gilberto Pichetto Fratin.
– Abi: the Payments Salon opens in Milan.
– Enel: capital markets day 2023.
– ECB: publication of the Financial Stability Review.
– GB: autumn forecast.
– USA: orders for durable goods in October.
– USA: new weekly requests for unemployment benefits.
– USA: weekly oil stocks.
THURSDAY 23 NOVEMBER
– Confindustria: Alto Milanese assembly with president Carlo Bonomi.
– Mef: Minister Giancarlo Giorgetti meets the Croatian Finance Minister, Marko Primorac.
– Coldiretti: XX International Agri-Food Forum.
– Consap: “30 years of Consap” event. Participating, among others, are the Minister for European Affairs, Raffaele Fitto, and the Minister for Foreign Affairs, Antonio Tajani.
– Stellantis: “Drive different” press conference organized by the National Automobile Museum. President John Elkann and CEO Carlos Tavares participate.
– Stellantis: opening event of the first circular economy hub “Sustainera”. Participating, among others, are President John Elkann and CEO Carlos Tavares.
– Bank of Italy: governor Fabio Panetta speaks at the ECB-Cepr conference.
– ECB: member of the board of directors, Isabel Schnabel, speaks at the Porto Business school.
– ECB: minutes of the board of directors.
– PMI: flash data from France, Germany, Eurozone and GB.
– USA: Thanksgiving, Wall Street closed.
FRIDAY 24 NOVEMBER
– Confindustria: Como Lecco Sondrio assembly. The Minister of Economy, Giancarlo Giorgetti, participates via video link.
– Coldiretti: XX International Agri-Food Forum. The Minister of Economy, Giancarlo Giorgetti, participates via video link.
– Bank of Italy: Report on financial stability.
– Tourism: International Forum in Baveno.
– ECB: President Christine Lagarde speaks at an event with young people organized by the Bundesbank.
– ECB: Vice President Luis De Guindos speaks at the Olaf Palme Foundation in Barcelona.
– SMEs: US flash data.
– Germany: Ifo confidence index in November.
– Germany: GDP in the third quarter.
– USA: Wall Street anticipates closing at 7pm Italian time.
