As Chinese money pours out of the motherland as the slow motion financial crash continues to build, Italian banks are suffering. European bank shares on the Euro Stoxx bank index have fallen by more than 50% in the 12 months to June 2016, reflecting the fact that non-performing loans are equal to 18% of balance sheets. The rush for the exit door was speeded-up by the EU’s bank bailout rules that require investors to take severe haircuts rather than allow the banks to be bailed out by state money. In Italy most of the banks have been shut out of
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