According to the economic press, Unicredit and Societe Generale have been studying their merger for months, but the political instability in Italy has caused this to be delayed. The combination of the two banks would create the third largest bank in Europe in term of market capitalisation.
UBS | Il Messaggero published yesterday a draft memo with some details of Atlante, the system -wide fund that has been created to secure banks’ recapitalisations and purchase NPLs.
MADRID | The Corner | The Eurozone Sentix Index fell 2.7 points in August, its lowest level in a year, from 10.1 reached in July. The analysts’ consensus had expected that the indicator would go back to 9 points. Sentix attributes in a press release this decline to the approved economic sanctions against Russia and points out that “As this slump derives from an event which is subject to politics and power play, the central banks, particularly the European Central Bank, will have difficulty in trying to counter this.”