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.
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.
July marked the start of the third quarter of the year and, despite fears of an escalation in political tension, markets have remained very resilient. The FTSE All-World index has risen by approximately 1% this month and both US and UK markets have experienced modest growth.