Pressure on reserves could trigger crisis as government official issues warningFears that Italy’s banks face a black hole in their finances are expected to grow this week following a debt downgrade that could send the value of bank reserves plummeting.Despite efforts to shore up the reserves of Italian banks, a downgrade by the ratings agency Moody’s on Friday following a row between Rome and Brussels over the government’s budget could send banks into freefall again. Continue reading…
Source link : https://www.theguardian.com/world/2018/oct/21/fears-about-italian-banks-expected-to-grow-following-downgrade
Author : Phillip Inman
Publish date : 2018-10-21 17:33:57
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