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Italy To Run Out Of Liquidity To Cover Its Deficit Shortfall By Year-End - BofA Merrill

From efxnews.com

Italy Ministry of Finance would have enough liquidity to cover two to three months of the average deficit shortfall in Q4 but won't be able to afford remaining out of the market beyond that period, says Bank of America Merrill Lynch in a note. The other side behind Italy's MoF liquidity issues is that the rolling debt maturities may also prove very challenging because of the heightened global uncertainty, the continuing problematic implementation of the Greek rescue program, and the weak growth prospects, BofA notices That even could deteriorate further if the pace of non-resident debt liquidation escalates while ... (full story)

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