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| ITALICA NEWS |
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| Italian banks: credit losses could reach 20 bln euros by the end of 2009 |
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| [ Italica ] - Italy’s banking system is suffering. “Preliminary assessments for our 11 major banks suggest credit losses of 11 billion euros on the period from January to September. At the end of 2009, I think credit losses will be roughly 20 billion euros” – Corrado Faissola, chairman of the Italian Banking Association, ABI, said on Friday. Besides, Mr. Faissola points out that the tax rate is getting unsustainable and emphasizes the need for structural measures. [November 20, 2009 – Italica news from Italy and San Marino] |
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