Are Things Getting Worse for Italy's Banks?

As Italy considers options to recapitalize its banks, the Texas ratio, a measure of bad loans as a proportion of capital reserves, illustrates the scale of the problem. A figure above 100 percent is a warning signal the banks need a solution quickly, Peter Garnry, head of equity strategy at Saxo Bank A/S, wrote in a research note on Tuesday. Bloomberg's John Follain reports and Jefferies International Chief Euro Economist David Owen discusses with Anna Edwards and Manus Cranny on "Countdown."

S&P's Kraemer on German Election, Portugal, Brexit
24:21 - Moritz Kraemer, chief rating officer at S&P Global, discusses the German election, the upgrade for Portugal's credit rating, the Catalan referendum, the U.K. downgrade and Theresa May's speech in Florence. He speaks on "Bloomberg Markets: European Open." (Source: Bloomberg)
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