Looming Banking Crisis in Italy Casts Another Shadow on The Eurozone

Italy is currently experiencing the quietest banking crisis I ever have seen. From 2007, the share of non-performing loans in the banking sector has tripled from 6 percent to the current 18 percent. The tide of sour loans rose steadily every year without any significant reaction from authorities. The official bailout initiatives are now more visible but it merely focuses on collecting funds so that the status quo can be maintained without any real restructuring of the economy or banking sector.