What the ECB Didn’t Say About Monte dei Paschi’s Bailout
The Italian lender’s earnings have been hobbled by hidden losses and bad loans.… Read More What the ECB Didn’t Say About Monte dei Paschi’s Bailout
Category: Italy Banking Crisis
ECB To Italian Government: Your Gold Is Ours
The ECB is letting the Italian government know that it won’t sit by and allow the Bank of Italy to sell off its gold reserves to help right the country’s troubled finances… Read More ECB To Italian Government: Your Gold Is Ours
Bad Loans Still Too High at Eurozone Banks, ECB Warns
NPLs remain dangerously to catastrophically high in Italy, Greece, Portugal, and Cyprus… Read More Bad Loans Still Too High at Eurozone Banks, ECB Warns
Italian Banks Are At It Again, Shares Re-Crushed
What to do with those messy banks ignites further tensions.… Read More Italian Banks Are At It Again, Shares Re-Crushed
Is the EU Backsliding On Commitment to Bail In Banks?
EU bank regulation may be in the process of coming full circle, meaning it won’t have gone anywhere at all… Read More Is the EU Backsliding On Commitment to Bail In Banks?
Default Or Exit: A Battle Between Italy And The EU Is Inevitable
There is a strong possibility that the EU’s leaders will soon be faced with a choice: try to save Italy (and the whole of Europe) from yet another crisis or set an example by punishing the Italian government for the country’s independent economic and foreign policies… Read More Default Or Exit: A Battle Between Italy And The EU Is Inevitable
Europe’s Leaders Are Aiding Italy’s Populists
The fact that Italy’s public debt has a lower credit rating than private debt is a reflection not of public debt’s intrinsic inferiority but of a political choice made by European leaders. And, by bolstering an authoritarian politician, that choice is now blowing back on them.… Read More Europe’s Leaders Are Aiding Italy’s Populists
“New Economic or Financial Crisis” in the Eurozone Could Start in Italy: French Government Frets
While contagion is definitely contained, the Eurozone “is not sufficiently armed to face a new economic or financial crisis.” French banks are heavily exposed to Italy.… Read More “New Economic or Financial Crisis” in the Eurozone Could Start in Italy: French Government Frets
Italy Vice-Premier Salvini Calls For Elimination Of Central Bank, “Prison Time For Fraudsters”
Italy’s Salvini said the Bank of Italy and the country’s stock market regulator should be “reduced to zero”, and that “fraudsters” who inflicted losses on Italian savers should “end up in prison for a long time.”… Read More Italy Vice-Premier Salvini Calls For Elimination Of Central Bank, “Prison Time For Fraudsters”
How An Italian Debt Crisis Could Take Down The EU
Italy’s $1.7 trillion pile of public debt – the third largest sovereign debt pool in Europe – is threatening to set off a chain reaction that could hammer banks from Rome, to Madrid, to Frankfurt – and beyond… Read More How An Italian Debt Crisis Could Take Down The EU
Italy Guns For Glass-Steagall-Type Law to Break Up Banks, Cut Bailout Costs for Taxpayers
The banking lobby and the ECB will have a cow.… Read More Italy Guns For Glass-Steagall-Type Law to Break Up Banks, Cut Bailout Costs for Taxpayers
Italy’s Populist Government Eats Words, Joins Bank Bailout Club
Well, that didn’t take long. And whatever happened to the Eurozone’s new bail-in rule?… Read More Italy’s Populist Government Eats Words, Joins Bank Bailout Club
