Lunedì, 24 Settembre 2018

'No risk of Cyprus contagion in Italian banks' says ABI


Rome, March 18 - The Italian Banking Association
(ABI) on Monday ruled out "a risk of contagion" from the
situation in Cyprus.
In a statement, ABI said Italian lenders "are in a very
solid position, and judging by the data from BIS (Bank for
International Settlements) they are only minimally exposed to
Cyprus, under a billion euros.
"With that in mind we have the utmost certainty in
excluding the risk of contagion".
Cyprus announced at the weekend that it would seize money
from bank accounts to comply with European bailout conditions,
sending shockwaves across European markets and leading to a rush
of bank withdrawals in Cyprus.
Milan's FTSE-Mib index opened Monday down 2.85% at 15,600
points, with Italian banks taking the brunt, before recuperating
270 points later in the day.

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