Main threat to stability from low growth, says Italian deputy
Fabio Panetta says credit growth ‘remains subdued’
The main danger to financial stability in the eurozone "stems from low real and nominal economic growth", a Bank of Italy deputy governor, Fabio Panetta, said today (November 24).
He told an audience in Milan there was "broad agreement" on this point, noting the European Central Bank's asset purchases were "directed to countering these risks".
Panetta added aggregate credit growth "remains subdued" in most eurozone countries, while the credit-to-GDP gap is "well below its historical average"
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