Italian finance sector must change, deputy governor says
Banks too exposed to cyclical conditions and firms too dependent on loans, Rossi says
“Italy’s entire financial structure is in difficulty,” the senior deputy governor of the country’s central bank said in a speech delivered on September 23.
“The financial and banking systems cannot remain as they are if we want our country to return to a path of growth as it has done in the past,” Salvatore Rossi said in the speech. The sector needs to change radically, but decisions on how to change should be made by banks themselves, he argued.
“The overall size of Italy’s financial sector
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