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The Big Bet Against Italian Banks
The Big Bet Against Italian Banks The eurozone’s third-largest economy, Italy, is marooned in a deep political and economic crisis, with seeming endless problems: an economy that has barely grown in decades, sky-high unemployment rates, ballooning national debt, an inability to form a stable coalition government and, lately, a looming showdown with the EU over […]
Italian Banks On Verge Of New Crisis After €400 Million Hole Emerges At Banca Carige
Italian Banks On Verge Of New Crisis After €400 Million Hole Emerges At Banca Carige Remember the Italian “doom loop”? Two months ago we reported that during the first Italian bond market freakout this May over the ascent of the populist due of Salvini-Di Maio to the Italian throne, Italian bank holdings of domestic government […]
114 Italian Banks (Roughly 23%) Have NPLs Exceeding Tangible Assets
114 Italian Banks (Roughly 23%) Have NPLs Exceeding Tangible Assets 114 Italian banks have non-performing loans that exceed tangible assets. Ratios above 100% are signs of severe stress. The headline image is from the from ilsole24ore.com. The article is dated March 25, 2017. The translated headline reads “Here are the 114 Italian banks at risk […]
The Next Italian Bank Threatens to Topple
The Next Italian Bank Threatens to Topple Sharp Dose of Deja Vu for Italy’s Teetering Banks. In a speech that did little to calm investors’ nerves, Italy’s finance minister said yesterday that he was “strangely optimistic” about Italy’s economic outlook. Senior eurocrats in Brussels are far from convinced. “Italy’s accounts are not improving,” blasted European […]
George Friedman: Italy Is the Mother of All Systemic Threats
George Friedman: Italy Is the Mother of All Systemic Threats Italy has been in a crisis for at least eight months, though mainstream media did not recognize it until July. This crisis has nothing to do with Brexit, although opponents of Brexit will claim it does. Even if Britain had voted to stay in the EU, […]
The Collapse Of Italy’s Banks Threatens To Plunge The European Financial System Into Chaos
The Collapse Of Italy’s Banks Threatens To Plunge The European Financial System Into Chaos The Italian banking system is a “leaning tower” that truly could completely collapse at literally any moment. And as Italy’s banks begin to go down like dominoes, it is going to set off financial panic all over Europe unlike anything we […]
Italy’s Banking Crisis Spirals Elegantly out of Control
Italy’s Banking Crisis Spirals Elegantly out of Control How to dump toxic waste on the public through the backdoor. Back during the euro debt crisis, while the ECB was buying government debt from Member States to keep Italian and Spanish government debt from imploding, German politicians fretted out loud about what exactly the ECB was buying. […]
Italy’s Banking Crisis Spirals Elegantly out of Control
Italy’s Banking Crisis Spirals Elegantly out of Control How to dump toxic waste on the public through the backdoor. Back during the euro debt crisis, while the ECB was buying government debt from Member States to keep Italian and Spanish government debt from imploding, German politicians fretted out loud about what exactly the ECB was buying. […]
Italian Banks Collapse, Short Sales Banned As Loan Loss Fears Mount
Italian Banks Collapse, Short Sales Banned As Loan Loss Fears Mount Italian bank stocks are crashing (with BMPS down 40% year-to-date) as Reuters reports that investors are growing increasingly nervous about how the sector will cope with lower interest rates and a 200 billion euro ($218 billion) pile of loans that are unlikely to be repaid. The broad banking […]
Greek Contagion Spreads As Several Italian Bank Stocks Failed To Open
Greek Contagion Spreads As Several Italian Bank Stocks Failed To Open While things have normalized since the open thanks entirely to the SNB’s aggressive EUR-buying, CHF-selling intervention (good to see that central banks have read the BIS’ report and have learned from their prior intervention mistakes), earlier this morning we got a snapshot of what […]
