Will Italy’s Bank Support Fund Help the Industry?
Italy's bank chiefs gathered in Rome this week to discuss what could be done to solve the industry's woes. At the root of the problem are Italian lenders' 360 billion euros ($409 billion) of non-performing loans. As a proportion of total lending, the country's banks have more non-performing loans than in any other major European economy. But will the creation of a multibillion-euro fund to help weakened banks raise capital and unload bad loans help avert a crisis? Lonsin Capital Partner Marco Elser and Credit Suisse Deputy Chairman Bob Parker discuss with “On the Move” host Guy Johnson in London and Bloomberg’s Hans Nichols in Berlin.
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