Italy under the spotlight of another financial crisis

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Series Details 17.09.18
Publication Date 17/09/2018
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Lorenzo Codogno and Mara Monti took a bird’s-eye view of banking problems in Italy, which started mostly as a fall-out from the sovereign debt crisis and the deep economic recession that followed. Policymakers and bank managers underestimated the consequences of the crisis, and the policy response was slow. New banking regulations did not pay much attention to Italy’s specificities, and thus worsened the situation. The crisis exposed banks’ weaknesses, especially on the governance side. The next recession may hit before Italy adequately addresses remaining vulnerabilities.

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Related Links
LSE European Institute: EuroppBlog, 28.06.17: Italy versus Spain: Two measures for solving the same banking problem
Deutsche Welle, 02.03.18: Italy: Crisis? What crisis?

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