That's bad. It has a direct effect in the financial-ecomic situation of the region if not the whole country. Hope the losses can recover soon. Thanks for sharing this.
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That's bad. It has a direct effect in the financial-ecomic situation of the region if not the whole country. Hope the losses can recover soon. Thanks for sharing this.
I don't know that they will be able to undo what has been done, @rosher72, I believe we are witnessing a slow motion train wreck.
I think there's an ongoing effort now by the Italian government. I just really don't know how the damage can be redeemed. I read this post a while ago ---- https://ph.yahoo.com/news/rome-rescue-two-troubled-banks-164251800.html
Politicians in Italy are in denial over the banks.
"Just weeks ago, Italy’s Minister of Economy Pier Carlo Padoan insisted that the two banks would not be wound down. Last year, to dispel the mountain of evidence to the contrary, he insisted that that there would be no need of any future bail outs; and that, furthermore, Italy did not even have a banking problem."
So meaning whatever in the news today about bail outs and bla bla things about the banks are nothing but a political propaganda, right? The sure thing is--the banks are dead and they really don't have any real intentions of salvaging it.
I would agree with that sentiment.