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Italian banks face 2019 funding crunch without ECB help
Many Italian banks are struggling to borrow on the private markets and want European Central Bank (ECB) help as they seek more than 55 billion euros ($63 billion) in funding this year. Even after removing the threat of major collapses by bailing out some of its lenders, Italy’s financial system is ill-equipped to support an economy at risk of slipping back into recession. Italy’s banks are still dealing with the bad debt left by the last downturn and another would risk new loans turning sour. Political uncertainty has meant a spike in borrowing costs for Italian banks since an anti-austerity government took power ... (full story)