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« Kirkland Lake Gold Announces Q2 Production Of 68,338 Ounces Of Gold And Welcomes Tony Makuch As CEO | Main | Junior Gold and Silver Mining Funds or Individual Gold and Silver Mining Stocks »
Sunday
Jul172016

Why Italy's banking crisis will shake the eurozone to its core 

They call them le sofferenze – the suffering. The imagery is striking, the thousands of sofferenze across Italy, unwanted and ignored, a problem unsolved.

But despite the emotional name, these are not people. They are loans. Bad debts, draining banks of profits and undermining economic growth.

The name is less clinical than the English term “non-performing loans”, a reflection of the Italian authorities’ emotional rather than business-like approach to the problem.

None the less, the loans are indeed causing real suffering. The €360bn (£300bn) of sofferenze from Italian banks show borrowers are weighed down with debts they cannot afford, while the banks are struggling to offer new credit to the households and firms that need them.


read more.......

Banking in general doesnt look to healthy so gold may be the alternative for some investors

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