Shares start to recover after weeks in freefall but there are fears Italy is inching towards financial crisisItaly’s beleaguered banking sector has been boosted after the European Central Bank and the Italian prime minister sent soothing messages to anxious investors.
Shares in Italys troubled banking sector recovered on Thursday following weeks of freefall, after the ECB president Mario Draghi said there were no plans to demand tougher provisions to cover the country’s heinous debt pile. Italy’s banks acquire some €201bn (£154bn) in non-performing loans (NPLs) which are unlikely ever to be paid back and which are restraining the country’s sluggish economic recovery by putting a brake on the release of new credits. Continue reading...
Source: theguardian.com