Pressure on reserves could trigger crisis as government official issues warning
Fears 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 Italian banks’ reserves, a downgrade by the ratings agency Moody’s on Friday following a row between Rome and Brussels over the government’s budget could send them into freefall again.
Continue reading…
Read More Italian bank fears expected to grow after debt downgrade