Lisa Jucca is a Milan-based Breakingviews columnist and writes about Italy, EU-Asia issues and private banking. She joined in January 2017 from Reuters, where she was Asia Finance Editor. A long-term Reuters reporter and team leader, she was Italy’s Chief Financial Correspondent throughout the euro zone crisis and EMEA Wealth Management Correspondent during the fall of Swiss bank secrecy. Previously, she had grappled with bitter cross-border merger battles and witnessed the launch of the euro in Brussels and London. Her work on secretive Vatican-China talks has been commended by SOPA. She studied at the Catholic University of Milan and Cambridge University.
A government spokesman has threatened a purge at the Treasury unless it finds the cash to pay for costly welfare handouts. Blaming the deep state won’t help. Global investors will stomach a bigger deficit only if Italy’s debt remains stable. Voters are in for a disappointment.
The high-end carmaker is aiming for a top equity value of 5 billion pounds. That would place the group above the average of luxury peers and near snazzier rival Ferrari in EBITDA multiple terms. The midpoint of the proposed IPO range looks more reasonable.
The $74 bln coffee giant unveiled a massive espresso emporium in the centre of Milan. It sounds like the equivalent of carrying coals to Newcastle. But there may be some logic here if the buzz created around the Italian launch gives a jolt to flagging sales in America and beyond.