Former Imf Summit Economist Warns Almost Italy
Friday, November 22, 2019
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Title : Former Imf Summit Economist Warns Almost Italy
link : Former Imf Summit Economist Warns Almost Italy
Former IMF principal economist Olivier Blanchard told CNBC's Joumanna Bercetche inwards Paris, "I'm rattling worried close Italy."
"The writing was on the wall," Blanchard said on Tuesday when global markets were diving because of fears of an Italian fiscal crisis. "When y'all accept upper-case missive of the alphabet mobility, in addition to y'all hand signals that y'all mightiness non remain inwards the euro ... in addition to thus y'all hold off investors to move, in addition to I intend that's what nosotros are seeing."
Asked if at that spot may last positives to the standoff inwards the shape of European Union concessions for Italia inwards social club to forestall a pull-out, Blanchard responded, "No. I am non optimistic."
Blanchard, however, said, "I suspect inwards this representative the European Union volition practise any is needed to forestall contagion, thus I'm non terribly worried close contagion," Blanchard said. "I'm rattling worried close Italy. Not worried close the residual of Europe. It volition last tough, only the residual of Europe, the residual of (the) euro volition last OK."
He is non concerned about contagion, of course, because he fully expects the European Central Bank to footstep inwards in addition to bail out the non-Italian European banks who accept exposure to Italian authorities debt.
The total total that international banks accept lent to Italia is € 550 billion.
The total exposure of French banks to Italian debt exceeds 250 billion euros. German banks lucifer € 83.2 billion worth of Italian bonds on their books. The already deeply distressed Deutsche Bank lonely has over € 11.76 billion worth of Italian bonds on its books.
-RW
You are now reading the article Former Imf Summit Economist Warns Almost Italy with the link address https://inspirationsbymeforyou.blogspot.com/2019/11/former-imf-summit-economist-warns.html
Title : Former Imf Summit Economist Warns Almost Italy
link : Former Imf Summit Economist Warns Almost Italy
Former Imf Summit Economist Warns Almost Italy
Former IMF principal economist Olivier Blanchard told CNBC's Joumanna Bercetche inwards Paris, "I'm rattling worried close Italy."
"The writing was on the wall," Blanchard said on Tuesday when global markets were diving because of fears of an Italian fiscal crisis. "When y'all accept upper-case missive of the alphabet mobility, in addition to y'all hand signals that y'all mightiness non remain inwards the euro ... in addition to thus y'all hold off investors to move, in addition to I intend that's what nosotros are seeing."
Asked if at that spot may last positives to the standoff inwards the shape of European Union concessions for Italia inwards social club to forestall a pull-out, Blanchard responded, "No. I am non optimistic."
Blanchard, however, said, "I suspect inwards this representative the European Union volition practise any is needed to forestall contagion, thus I'm non terribly worried close contagion," Blanchard said. "I'm rattling worried close Italy. Not worried close the residual of Europe. It volition last tough, only the residual of Europe, the residual of (the) euro volition last OK."
He is non concerned about contagion, of course, because he fully expects the European Central Bank to footstep inwards in addition to bail out the non-Italian European banks who accept exposure to Italian authorities debt.
The total total that international banks accept lent to Italia is € 550 billion.
The total exposure of French banks to Italian debt exceeds 250 billion euros. German banks lucifer € 83.2 billion worth of Italian bonds on their books. The already deeply distressed Deutsche Bank lonely has over € 11.76 billion worth of Italian bonds on its books.
-RW
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You are now reading the article Former Imf Summit Economist Warns Almost Italy with the link address https://inspirationsbymeforyou.blogspot.com/2019/11/former-imf-summit-economist-warns.html