Giovedì, 18 Ottobre 2018
ROME

ABI says no to Spanish-style 'bad bank' or mega-merger

English
© ANSA

(see related)
Rome, November 26 - Italian bank association ABI
declared on Monday that Italy does not need a "bad bank" for
toxic assets following the Spanish model, nor does it need a
major merger among banks like Spain.
The heads of ABI claimed Italian banks instead need easing
of European bond spreads and better conditions for making more
revenues.
The heads of ABI said conditions for Italian bank revenues
would improve with lighter norms and taxes, as well as cost
containment.
European bond spreads measure the difference between
interest rates on a European Union member and a benchmark
nation, usually Germany.
It is an important indicator of a country's ability to
weather the euro crisis.
The spread between Germany's bond rates and those of
countries at the heart of the crisis, like Italy and Spain,
remain unsustainably high over a prolonged period of time.
The result has been government austerity measures,
recessionary pressure and a credit crunch in both countries.
ABI also called for common European banking norms to help
level the competitive playing field for banks across the
continent.

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