Graphic shows build up of bad loans since eurozone financial crisis. Since 2009, almost 100,000 Italian companies have become bankrupt.
07/18/2016
Graphic News
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| Graphic shows build up of bad loans since eurozone financial crisis. Since 2009, almost 100,000 Italian companies have become bankrupt. |
July 18, 2016 -- Italy’s banks hold some €360 billion of bad loans which challenge new EU rules that require private investors to be “bailed in” before banks are “bailed out” with EU taxpayers’ money.
Prime Minister Matteo Renzi plans to inject €40 billion into banks in bid to deal with “sofferenze” -- €200 billion of rotten debt.
On July 29, the results of bank stress-tests are due. These could serve as a catalyst for Rome to intervene with taxpayers’ money.
In October Italy votes in a referendum on constitutional change. Renzi will likely resign if his Partito Democratico loses the ballot.
Polls suggest that the opposition 5-Star Movement of Beppo Grillo is a genuine contender for government at the next general election. Grillio has called for a national referendum on whether the country should leave the euro.
On July 29, the results of bank stress-tests are due. These could serve as a catalyst for Rome to intervene with taxpayers’ money.
In October Italy votes in a referendum on constitutional change. Renzi will likely resign if his Partito Democratico loses the ballot.
Polls suggest that the opposition 5-Star Movement of Beppo Grillo is a genuine contender for government at the next general election. Grillio has called for a national referendum on whether the country should leave the euro.
http://www.graphicnews.com/en/go/pages/34510/BUSINESS-Italys-banking-crisis
