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Italy

Italy bank showdown looms in test for European consolidation (Reuters)

July 1, 2020 | File Under: , , ,

“As many bankers fled Italy’s financial capital for second homes in the mountains or lakes at the start of a coronavirus lockdown in March, Victor Massiah rushed instead to rent a house within walking distance of UBI Banca’s Milan offices.” – by Andrea Mandala, Valentina Za and Pamela Barbaglia

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Italy’s Del Vecchio asks ECB to allow bigger Mediobanca stake (Reuters)

June 1, 2020 | File Under: , , ,

“Del Vecchio’s holding company Delfin said it had filed the request to increase its Mediobanca holding above 10% and up to 20% with the Bank of Italy on May 29, adding that the authorisation process usually takes up to 60 days.” – by Claudia Cristoferi

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Interview with Philip R. Lane, Member of the Executive Board of the ECB (El País)

May 19, 2020 | File Under: , , , , , , ,

“The speed at which the economy bounces back will then hinge on whether consumers are more reluctant to consume and businesses hold back on investment. From today’s perspective, it looks in any case unlikely that economic activity will return to its pre-crisis level before 2021, if not later.” – Luis Doncel

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Italy’s future is in German hands

April 2, 2020 | File Under: , , , , , , , , ,

“As coronavirus cuts a swath of economic destruction across Europe, pushing the already-strained budgets of southern countries to the brink, calls are getting louder for the eurozone to intervene by issuing debt backed by all members.” – by Silvia Borrelli and Matthew Karnitschnig

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Investing in Europe in 2020 – The Year Ahead

An overview of some European key themes and political risks for 2020

2020 brings with it the 10th year of recovery since the global financial crisis. Equity markets continue to break records, ample credit is available, yet the bullish performance appears cosmetic at times and investing in Europe in 2020 is fraught with political risks.  The US deficit doubled from $385bn to $779bn last year, the UK […]

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Intesa Sanpaolo launches €4.9bn bid to buy Italian banking rival UBI Banca (FT)

February 19, 2020 | File Under: , , , , ,

“Intesa Sanpaolo, Italy’s biggest domestic lender, has launched a €4.86bn ($5.26bn) takeover bid for its rival UBI Banca in an audacious attempt to kick-start consolidation in Italy’s fragmented banking sector.” – by Stephen Morris, Arash Massoudi and Laurence Fletcher

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Di Maio Quits as Five Star Leader in Italy, Deepening Party’s Disarray (NYT)

January 23, 2020 | File Under: , , , , ,

“He was once the fresh face of a new political force. Now, his exit could signal yet another government crisis.” – by Jason Horowitz

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Italian politics: Matteo Salvini’s comeback bid (Financial Times)

“Victory in the leftwing region of Emilia-Romagna, could propel the League leader to prime minister.” – by Miles Johnson

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Italian PM Giuseppe Conte resigns plunging the country into fresh political turmoil (Euronews)

August 20, 2019 | File Under: , , , , ,

“Italy’s Prime Minister Giuseppe Conte has resigned, plunging the country into fresh political turmoil.” – by Gareth Browne

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Italy’s Carige faces April deadline to fill 630 mln euro capital gap (Reuters)

March 1, 2019 | File Under: , , ,

“Temporary administrators of Banca Carige said they had to find a buyer by April for the Italian bank, after unveiling a 630 million euro ($718 million) capital shortfall” – Valentina Za

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