IMF Recommends Urgent Action to Allay Italian Balance Sheet Woes
Posted: Mon Jul 11, 2016 3:39 pm
The International Monetary Fund (IMF) cautioned a recent bail-in of retail investors in Italy, which since the Brexit fallout has risen to the top of minds in Europe as a potential issue for Europe. The situation has become troublesome given the influx of non-performing loans (NPLs) and poor shape of balance sheets in the country, which underscored the need for financial industry reforms.
The IMF has championed reform issues on the continent before – just last year the Washington-based fund found itself at the center of a debate between Greece and EU lenders, which ultimately resulted in a default and further ... (read more)