Will Italian Banks Survive Without a Eurogroup Bailout?
Eurogroup Chairman Jeroen Dijsselbloem pledged to resist calls for public money to support troubled European lenders, insisting their problems need to be solved by banks themselves. Italian Prime Minister Matteo Renzi is seeking a green light from the European Commission to recapitalize Banca Monte dei Paschi di Siena SpA and other banks while sparing creditors from facing losses if taxpayer funds are used. He’s racing to shore up a financial system burdened by about 360 billion euros ($399 billion) of non-performing loans amid the European Central Bank’s increasing pressure on Italian lenders to clean up their balance sheets. Bloomberg's Ryan Chilcote reports and Columbia Threadneedle EMEA CIO Mark Burgess discusses with "On the Move" hosts Anna Edwards in London and Caroline Hyde in Berlin.
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Joe Quinlan Tells Investors 'Be in the Market'
45:22 - In today's "Single Best Chart," Bloomberg's Tom Keene and Francine Lacqua display the performance of the S&P 500, going back to 1930. They speak with Joe Quinlan, head of market and thematic strategy at Bank of America Merrill Lynch and U.S. Trust, on "Bloomberg Surveillance." (Source: Bloomberg)