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Italy Warns Sudden Collapse Of Alitalia Would Lead To “Great Shock” For The Economy
Italy Warns Sudden Collapse Of Alitalia Would Lead To “Great Shock” For The Economy That Italy has a bank solvency problem will not come as a surprise to anyone who has been following events in Europe for the past 7 years. Just yesterday, Italian daily La Stampa reported that four months after the third government […]
Trying to Save Monte Paschi – Oldest Bank in the World
Trying to Save Monte Paschi – Oldest Bank in the World The EU Commission is looking to bailout Monte Paschi by almost eliminating more than 5,000 jobs. The Monte Paschi plan that was presented last October called for 2600 layoffs. It is the oldest surviving bank in the world and the third largest Italian commercial and retail bank […]
Italy To Nationalize Monte Paschi After Private Sector Rescue Fails
Italy To Nationalize Monte Paschi After Private Sector Rescue Fails Update: the FT writes that the Italian govt set to take a stake between 50% and 70% in Monte dei Paschi, up from the current 4% stake, as part of the government’s third bailout in as many years. As the FT adds, “the government rescue, which had long […]
Monte Paschi Rescue On The Rocks: Regulators Now “Expect Bank To Ask Italy For Bailout”
Monte Paschi Rescue On The Rocks: Regulators Now “Expect Bank To Ask Italy For Bailout” Ever since two months ago, when Italy’s third largest bank – and the world’s oldest – Sienna’s Monte dei Paschi, failed Europe’s latest stress test, it had scrambled, and assured markets, that it would obtain a private sector cash injection, […]
Italy Seeks “Last Resort” Bailout Fund To “Ringfence” Troubled Banks, Meeting Monday
Italy Seeks “Last Resort” Bailout Fund To “Ringfence” Troubled Banks, Meeting Monday Italy’s finance minister, Pier Carlo Padoan, wants to “ringfence” its troubled banks. Padoan called a meeting of the executives of Italy’s troubled banks in Rome on Monday. The banks allegedly will come up with a “Last Resort” bailout fund. Last resort or first […]
Italy Races To Defuse €200 Billion Bad Loan Time Bomb With “Bad Bank”
Italy Races To Defuse €200 Billion Bad Loan Time Bomb With “Bad Bank” When Portugal “surprised” senior Novo Banco bondholders with a €2 billion bail-in late last month, the market got an unwelcome reminder that euro periphery banks are far from “solid.” Novo was supposed to house the “good” assets salvaged from the wreckage of […]
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 […]
Errors Found In The ECB’s “Confidence-Boosting” Stress Test | Zero Hedge
Errors Found In The ECB’s “Confidence-Boosting” Stress Test | Zero Hedge. Just when you thought the humor out of the central bank that just released a stress testwhose adverse scenario did not even assume the most likely Eurozone outcome, i.e., deflation, couldn’t get any better, moments ago we learned that the test, which was supposed to […]
