Ambrose Evans-Pritchard writing in the UKk Telegraph
I had to check the date …. but no its not an old story
- Italy risks sliding into a recessionary vortex
(Good old AEP!)
- after corporate lending slumped by 5.5pc in December, raising the odds of a fresh debt crisis in 2019 without a shift in policy by the eurozone authorities.
- Data from the European Central Bank on Monday shows that total loans to non-financial companies in Italy have been contracting at an accelerating pace since the insurgent Lega-Five Star coalition took power in June. This has metastasized into an incipient credit crunch over the last two months.
- Italian lenders are now being forced to rein in credit as the ECB imposes draconian capital requirements when the country is already in a technical recession, and in the midst of a serious economic slowdown
Article is here (Tele is gated)
