Bloomberg the Company & Products

Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Europe Lacks Urgency on Crisis, Italy Bank Head Says

July 11 (Bloomberg) -- European leaders need to act faster to back troubled lenders and support nations in distress, the head of Italy’s banking lobby said.

“Decisions aren’t being made with the urgency required by markets, even when solutions have already been indicated,” said Giuseppe Mussari, chairman of banking association ABI. “Europe must put measures in place that buy the time needed” for individual countries to make structural changes, Mussari said.

Italian banks including UniCredit SpA and Intesa Sanpaolo SpA have had their credit ratings downgraded as the country struggles with a recession and rising borrowing costs.

The lenders are now looking for European Union help after Italian Prime Minister Mario Monti got his EU counterparts to pledge support last month for plans to collectively finance sovereign bond purchases and recapitalize troubled banks.

To contact the reporter on this story: Andrew Frye in Rome at

To contact the editor responsible for this story: James Hertling at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.