Forget Brexit or Grexit, €360bn of bad loans within a fragmented Italian banking sector could be the biggest threat of all Even a “small crisis” could trigger a chain of events that would threaten the stability of the European Union, the credit ratings agency Moody’s has said. Brexit – if the UK votes to leave the 28-nation union – or even Grexit – the departure of Greece from the eurozone – are the obvious vulnerabilities. But some commentators believe an altogether quieter crisis should also be at the top of the worry list: Italy’s battle to prop up its debt-laden banks. Continue reading...
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