italian banks situation

Monte Dei Paschi workforce cut

Monte Dei Paschi Cost Cutting Could Include 50% Of The Current Workforce

At the end of 2016, the Italian government approved the setting up of an up to 20 billion euros fund to provide financing for banks with problems of solvency and/or liquidity like (MPS). It’s good news for Italy’s financial system and for the country’s risk premium that international funds are showing interest in buying MPS’ unproductive assets.



Greece debt

“What Is Clear Is That Greece Cannot Pay Its Debt And Will Never Pay It”

“What is clear is that Greece cannot pay its debt and will never pay it. There needs to be an acquittance. And European legislation does not allow for waivering of debt. What they are going to do now, and it should have been done seven years ago, is to modify the conditions in such a way that the debt will be practically waivered,” says Spanish economist Fernando Eguidazu, as he leaves his Foreign Office post of Secretary of State for the European Union.