Italy’s Banking Woes Spark Fears of Market Contagion
European banks have fallen to levels not seen since the worst days of the region’s debt crisis as turmoil surrounding Italy’s lenders intensified. Worries about market contagion dragged the Stoxx Europe 600 Banks Index just 1.4 percent away from its 2011 low. Most of Europe’s banks lost at least 40 percent of their value in the last year -- Banco Popular Espanol SA, Banca Monte dei Paschi di Siena SpA, Deutsche Bank AG and Credit Suisse Group AG reached fresh record lows this week. G Plus Economics Chief Economist Lena Komileva discusses with Bloomberg's Anna Edwards and Manus Cranny on "Countdown."
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SocGen's Bini Smaghi Sees Post-Brexit Bank Difficulties
26:19 - Lorenzo Bini Smaghi, chairman at Societe Generale, discusses the post-Brexit complications he sees for banks throughout Europe. He speaks with Bloomberg's Francine Lacqua on "Bloomberg Surveillance." (Source: Bloomberg)