Eurozone Warning: EU Banks Panic at Huge Italy Debt

Sharing is Caring!

BANKS in France, Germany and Belgium are most at risk of contagion from Italy’s deepening debt crisis, new data has revealed.

Domestic banks in the Mediterranean nation are already encumbered with some £1.3 trillion (€1.5 trillion) of public debt as the cash-strapped government in Rome grapple with a weak economy which tumbled back into recession at the end of last year. But in addition to the eye-watering figures on the books of Italian banks, financial institutions in the rest of Europe have lent more than £370 billion (€425 billion), according to new analysis of official figures by Bloomberg. Lenders in France are most exposed to a sell-off in Italy with £250bn (€285.5bn) in credit extended by French banks.

READ  Now They Are Warning That The “Delta Variant” Will Cause The Biggest COVID Wave Of The Entire Pandemic
READ  UK Lockdown May Last Till Next Spring... Scientists Issue Warning That UK Could See 100,000 Daily Covid Cases Next Month!!!!!!



Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.