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Italy’s Risk Is Declining, UniCredit’s Nicastro Tells Messaggero

Dec. 29 (Bloomberg) -- Investors have not fully recognized that sovereign-credit risk in Italy is declining, UniCredit SpA General Manager Roberto Nicastro told Il Messaggero.

The market doesn’t seem to have reacted to important developments that may improve public finances, including the change of governments in Italy, Spain and Greece and the European Central Bank’s three-year auction that injected liquidity into the banking system, Nicastro said in an interview with the Italian newspaper.

The risk of a new “heavy” recession in the euro region should be excluded, he told Il Messaggero.

To contact the reporter on this story: Armorel Kenna in Milan at akenna@bloomberg.net

To contact the editor responsible for this story: Sara Marley at smarley1@bloomberg.net

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