“The Italian bank has bought some time with the ECB, but what it really needs is a white knight.”
Italy
Italy Vows to Stick to Budget That Breaches EU Rules (WSJ)
“Italy’s government vowed to forge ahead with its spending plans, despite warnings by the European Union that its proposed budget would breach the bloc’s fiscal rules, raising the chances of a clash with Brussels.”
The 10 Most Important People in Italy Worth Watching Right Now (Bloomberg)
“Italy’s determination to deepen its budget deficit next year is driving up the government’s borrowing costs and setting it on course for a clash with the European Union. These are the people that traders really need to pay attention to in the weeks ahead.”
Italian banks a bigger risk than Turkey (Euromoney)
“Any contagion from a shock in Italy would certainly have more of an impact on Europe, and globally, than the crisis in Turkey, compounded by the fact Brexit and trade wars are creating huge uncertainty.”
Tycoon’s Sputtering Italian Bank Investment Draws Angst From ECB (Bloomberg)
Italian banks, such as Carige, continue to complicate the ECB’s attempts to put the European banking crisis in the past.