GDP is not enough to understand inequality, the head of UNDP believes

GDP is not enough to understand inequality, the head of UNDP believes

From Brexit to the ‘gilets jaunes’, protest movements in Europe and elsewhere have shocked political elites in recent years. At their heart is a sense that economic growth has left many people worse off even if, in most countries, the headline GDP figures suggest that countries are much wealthier. Challenging the idea that economic growth will automatically lead to development and wellbeing is one of the main themes in the 2019 Human Development report by the UN Development Programme (UNDP) published in December. Achim Steiner, the administrator of the UNDP,…

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Italy delays presentation of Monte Paschi stake sale plan

Italy delays presentation of Monte Paschi stake sale plan

Italy will delay to early 2020 the presentation of a plan to sell its stake in Monte dei Paschi di Siena, the Treasury said on Sunday (29 December), as the bank struggles to shed bad loans. The plan for the state to offload its 68% stake in the world’s oldest bank by the end of 2021 was supposed to be submitted to the EU executive by the end of this year. The Treasury said in statement it had asked Brussels for the postponement “in the light of, and in line…

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