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Mario Draghi, president of the European Central Bank answers reporters questions during the ECB's monthly press conference in Frankfurt, September 5, 2013. Market View European Central Bank President Mario Draghi expects 'prolonged' inflation...Mr.
With Italy mired in its longest recession since the Second World War, the country's hard-pressed banks are cutting jobs, closing branches and infuriating unions, but the cuts are far too modest to achieve the profitability gains they need. So far,
Non-performing bank loans in Italy have reached 75 billion euros, taking into account recorded net value adjustments, Bank of Italy Governor Ignazio Visco said on Wednesday. These bad loans, however, ''are amply covered by the system as a whole by
fix was USD 1,308.50, EUR 959.87 and GBP 813.09 per ounce. Gold climbed $40.20 or 3.14% yesterday, closing at $1,319.70/oz...Platinum jumped $44.84 or 3.2% to $1,432.74/oz, while palladium soared $23.50 or 3.3% to $737.50/oz. Gold is 3.5% higher for
The Bank of Italy in a report on Tuesday confirmed its July prediction that Italy's gross domestic product (GDP) will fall 1.9% in 2013. The Italian central bank also said GDP contraction in the third quarter was far more contained than in the first
Italy's largest bank UniCredit is pictured in downtown Milan September 12, 2013. The head of UniCredit confirmed on Wednesday the Bank of Italy was conducting an audit of the loan book of Italy 's biggest bank by assets, after sources told Reuters
Italy's huge public debt decreased slightly in August, the Bank of Italy said on Tuesday. The debt stood at 2.06 trillion euros in August, down 13.9 billion euros on July, the central bank said. It added that the national debt increased by 70.6
The fall in the number of loans granted by banks accelerated in recession-hit Italy in August, the Bank of Italy said Tuesday. The central bank said loans to Italian households and non-financial firms were down 3.5% in August compared to the same
Italy's largest bank UniCredit is pictured in downtown Milan September 12, 2013. UniCredit , Italy 's largest bank by assets, has submitted a preliminary offer to buy Poland 's Bank BGZ and is sounding investors out on the possibility of selling its
The capital of Italy's central bank could be re-evaluated to as much as 7 billion euros from 156,000 euros currently, a Treasury document obtained by Reuters showed on Monday, in a move that domestic lenders hope would boost their own balance sheets.