I suggest energy and witt better spent to look for ways to self-servingly enrich oneself off the system rather to philosophy about "what solutions still need to be found" because one fine day a "solution" will appear all by itself. until then... ride the horse for all its worth
If we analyse how debt in Italy works—who lends to whom and how—we can better understand what some of Italy’s key problems are and what solutions still need to be found. Finance must be redirected towards viable productive projects in the real economy, rather than self-serving clientilistc relations within finance and in industry. The problem is not the supply of finance, but its demand. To create that demand, a stronger innovation eco-system is required. Central to that system is the provision of long-term, strategic finance to high growth companies so that Italy’s small companies can grow instead of remaining small and unproductive. Policy should create additionality, crowding in the private sector to do its job of investing in new opportunities—rather than complaining about government bureaucracies and red tape with one hand, and continuously asking for handouts with another.
jkt abel 09:45:53 GMT - 08/11/2016
and who gave those jobs to Draghi if he was so incompetent?
LONDON SFH 09:43:03 GMT - 08/11/2016
That sounds par for the course for both ther EU and Italy... Draghi also worked at GS...
PAR09:36:35 GMT - 08/11/2016
Plenty of Italian got very rich by not repaying bank debt . A big part of the € 360 billion went from banks to not so kosher companies and individuals .
Most of those loans were generated when a certain Mario Draghi was head of the bank of Italy .
The € 360 billion in NPL . The money did not disappear it just changed hands from banks to who knows who .
Mtl JP 09:08:22 GMT - 08/11/2016
PAR lets see if and how we can use it to ride Italy to get filthy rich
Looming Banking Crisis in Italy Casts Another Shadow on The Eurozone
Italy has shied away from reforms and recent bailouts won't change anything either, which mean its toxic debt is threatening to poison the European trade bloc
Italy is currently experiencing the quietest banking crisis I ever have seen. From 2007, the share of non-performing loans in the banking sector has tripled from 6 percent to the current 18 percent. The tide of sour loans rose steadily every year without any significant reaction from authorities. The official bailout initiatives are now more visible but it merely focuses on collecting funds so that the status quo can be maintained without any real restructuring of the economy or banking sector.
European Union regulation forbids any member country from subsidizing a private company directly. To circumvent this problem, the Italian government has created two rescue funds – Atlante I and Atlante II – that purchases some of the bad loans from the banks. The ideal situation would be that only private money is invested in the funds, but the initiative got a lukewarm welcome. Therefore, some of the investments are from funds that I regard as semi-public. The latest fund, Atlante II, raised 2.4 billion euros, which might sound like a large amount, but is relatively small given the size of Italy's economy and problems.
Mon 27 May 2019 AAGB/US- Holiday Tue 28 May 2019 A 14:00 US- Consumer Confidence C 13:00 US- Case-Shiller Wed 29 May 2019 A 08:55 DE- Employment AA 18:00 US- BOC Decision A 18:30 US- EIA Crude Thu 30 Mar 2019 AAEZ/CH- Holiday A 12:30 US- Weekly Jobless Fri 31 Mar 2019 AA 10:00 EZ- Flash HICP A 12:30 US- Personal Income, Spending, Deflator AA 14:00 US- Final Univ of Michigan
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