What on earth has been going on in Italy and what does it mean for your money?

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 1 June 2018

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

Global financial markets have been flying up and down and all over the place this week and it’s all got to do with one boot-shaped country in the Mediterranean.

Italy has found itself embroiled in a power struggle between Eurosceptic populists – winners of the March general election – and the pro-EU establishment.

The ramifications have spread across the globe and will affect Britons from big-time investors to anyone building up a pension pot.

As we write this a coalition deal has been reached in Italy, likely to avert a proposed snap election. But this story is moving so quickly that just hours ago when we recorded the podcast there was no deal on the table. Even more reason as things helter-skelter forward to step back and work out what is going on and how on earth we got here – as This is Money editor Simon Lambert offers in his back-to-basics explainer.

Also in this episode, Simon, presenter Georgie Frost and personal finance editor Rachel Rickard Straus talk about what you can do to stop your dream house move falling through, and whether proposals to make tax on savings and dividends simpler will work – or just see savers pay more tax.

And finally, in troubled times for the high street, they look at one retailer bucking the trend.

Enjoy.

Transcript

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0:00.0	Welcome to This Is Money podcast in partnership with NSN. I'm your host, Georgie Frost, and alongside
0:06.8	editor Simon Lambert Nye, today is personal finance expert Rachel Rickard Strauss. And coming up,
0:12.5	will it be Chow from Italy? Why political turmoil in the Eurozone's third biggest economy has the
0:18.2	market spooked and why we should care. Also, what can you
0:22.4	do to stop your dream, how smooth falling through? In troubled times for the High Street,
0:27.5	we take a look at one retailer bucking the trend, plus moves to make tax simpler. Will
0:32.9	they work? Don't forget you yourself up to date with all the latest. Breaking Money news,
0:36.4	just go to this ismoney.com.
0:37.8	UK or download the app.
0:41.5	This is Money, brought to you in partnership with NS&I, giving you 100% security for your savings, backed by HM Treasury.
0:50.9	But first, last week on the show it was Ponzi.
0:53.7	This week we focus on another rather unwelcome Italian export, that is, their turbulent politics.
1:00.5	It's got investors and the Eurozone spook that we could soon get, and I-Tex it, can we call it? No, we can't call it that.
1:07.8	It's as the bloc's third largest economy finds itself embroiled in a power
1:11.7	struggle between Eurosceptic populists, winners of the March election, and the pro-EU establishment.
1:18.6	Now, the ramifications of which have spread across the globe. So what is going on in Italy? How have we got here?
1:25.1	Where are we going? And why should we care? So, a very warm welcome to you both.
1:31.2	Simon to you first, if that's all right. Elections in March, yet no government, calls for the president to be impeached.
1:40.4	Italy, just a colony of Germany. What's going on? Actually, initially, the reaction to the election in March that didn't deliver a decisive result,
1:49.9	but delivered a big share of the vote for these two populist parties,
1:53.9	one of which is called the Five Star Movement and is an anti-establishment party.
1:59.3	Considered to be on the left, but I don't know whether it really does conform to the traditional
	...

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