Healthy Italian banks will help to fill a 400 million euro (350 million pounds) hole on Banca Carige’s (CRGI.MI) balance sheet, sources close to the matter said on Monday, in order to avert a possible crisis that would further destabilise the sector.
Italy’s budget crisis is raising broader concerns about the sustainability of its public debt and risks spreading turbulence to others, European Central Bank Vice President Luis de Guindos said.
Italy’s Prime Minister Giuseppe Conte was reported as saying the he expects Libyan commander Khalifa Haftar to join the ongoing Palermo conference organised by Rome to push forward a new U.N. plan to stabilise the troubled North African country.
European companies are delivering their most disappointing earnings in nearly three years as a sluggish economy and rising costs take their toll on bottom lines, dealing another blow to investor confidence shaken by Italy’s budget crisis and Brexit.
Dollar built on last week’s gains and rose toward a 16-month high as traders expect the U.S. Federal Reserve to keep tightening monetary policy, but sterling remained under heavy pressure amid uncertainty over a Brexit deal.
Economy Minister Giovanni Tria said a sharp reduction in the government’s budget deficit, as demanded by the European Commission, would be suicide for Italy’s economy.
Bad loans on Italian bank balance sheets fell to their lowest level in about six years in September, central bank data showed.
Monte dei Paschi, Italy, European Commission, Tuscan lender
UN envoy Ghassan Salame has praised Italy's conference in Palermo next week on Libya.
Britain’s economy kept up healthy momentum during the third quarter, but this may prove a high watermark ahead of Brexit, official figures showed.