The shocking graph that proves EU is DOOMED.. Italian banks TUMBLE in wake of stress tests
ITALY’S largest bank has borne the brunt of the country’s crippling banking crisis after it was forced to nurse massive losses in the wake of stress tests of European lenders.
By REBECCA PERRING
Express.com
Thu, Aug 4, 2016
This shocking graph shows how UniCredit’s shares have plunged by 9.4 per cent, adding to growing concerns about the solidity of the wider banking industry in the eurozone’s third largest economy.
Matteo Renzi’s country is already engulfed by a €360billion (£301billion) debt mountain that banks accumulated during a three-year recession.
For a third day in a row UniCredit shares were halted as Europe’s banking stocks reeled over the devastating results of the European Union stress tests.
It comes after investors rushed to dump UniCredit stock on Monday after stress tests issued on Friday prompted worries over the firm’s stability in a downturn.
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