Italian banks, this is euro area politics. We think you already know each other? [UPDATED]
FT Alphaville » Italy 2016-07-14
Summary:
Italian banks are a problem. Post-Brexit they’re a serious problem.
A full recap of said banking sector and its estimated €200bn of gross non-performing loans would, according to JPM, “require up to €40 billion (less than 2.5% of GDP)”.
Manageable, say JPM again, “given the current Italian fiscal position and sovereign cost of funding.”
Only problem is…
Continue reading: Italian banks, this is euro area politics. We think you already know each other? [UPDATED]