Move Over Brexit, Italian Banks Now the Focus
The International Monetary Fund called for action over concerns relating to the bail-in of retail investors in Italy, noting that “very high” amounts of non-performing loans and slow judicial processes were straining bank balance sheets. Financial industry reforms “are critical to entrench financial stability and support the recovery,” the IMF said in a statement following its regular review of the Italian economy. The Washington-based fund said that NPLs appeared to be stabilizing at around 18 percent of total loans. GAM Group's Larry Hatheway discusses with Bloomberg's Anna Edwards and Manus Cranny on "Countdown."
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Deutsche Bank Says Economy Not Top Issue for Voters
54:38 - Stefan Schneider, chief German economist at Deutsche Bank, discusses the outcome of the German election, his outlook for the economy and how much risk he sees in the Brexit negotiation for German industry. He speaks on "Bloomberg Daybreak: Europe." (Source: Bloomberg)