Italy on the BRINK: Emergency rescue fund set for banks amid fears of ANOTHER Euro crash

Tuesday, April 12, 2016
By Paul Martin

DESPERATE Italy has launched an emergency rescue fund for its banks amid growing fears the country’s huge debts could tip the economy over the edge.

By LANA CLEMENTS
Express.co.uk
Tue, Apr 12, 2016

Italian banks are estimated to hold around £270billion of bad loans – more than 30 per cent of the eurozone’s total – which experts worry could spark another financial crisis for the country.

Backed by the government, financial institutions have now agreed to a £4billion package aimed at helping the Italy’s most troubled banks.

The cash is to be used to buy the high risk loans, as well as injecting money into firms where there are worying shortfalls.

Panic over the bad loans started gathering pace at the start of the year, as investors dumped banking stocks.

The Rest…HERE

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