Italy's latest bank bailout makes taxpayers the losers

Posted by ap507 at Jun 28, 2017 04:19 PM |
Professor Panicos Demetriades quoted in Fortune article about Italy's economic problems

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Professor Panicos Demetriades (pictured), from our School of Business and a former Governor of the Central Bank of Cyprus and member of the ECB's governing council, has been quoted in an article by Fortune about Italy's banking crisis. 

In the article he says: "The Italian government is muddying the waters instead of applying the rules. Italy can hardly afford to lump such burdens on its population. Its public debt is already 133% of gross domestic product. This is a country with very limited fiscal space, so what they are going to do if more banks start failing, I cannot imagine."

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