The European Commission cut its economic outlook for the eurozone on Tuesday, predicting it would grow only 1.1 per cent in 2015, down from a forecast of 1.7 per cent just six months ago.
Given that the third quarter of the year was a period plagued with geopolitical tension, the FTSE World index delivered a surprising gain of 2.7%.
Italy faces enormous challenges. The Italian economy is in its third recession since 2008, having contracted for the second consecutive quarter by 0.2% in Q2 2014.
From April 2015, People with defined contribution pension savings will no longer have to worry about their pension savings being taxed at 55% on death.