What a drama queen

;)
  • Need to use ESM for sovereign bonds, aid to banks
  • Current yield spreads fuel further EMU imbalances
  • Current spreads impede correct single monetary policy
  • EU, ECB must make “practical commitment” to markets
  • ECB can fill temporary vacuums, not replace politics
  • Warns of “dangerous” renationalization of financial systems
  • Need for peer review of Bank RWA calculations
  • Italy recovery “journey will not be short”
  • Italy must “exploit to full” scope for asset sales
  • Italy tax burden “incompatible with growth”
  • Bank shareholders “need to realize” profit to be lower
  • Italy banks must cut labour costs, executive pay
  • Italian banks have 100 bln of elligible ECB collateral
  • More bank credits may become elligible collateral
  • Italian banks bought net 70 bln in govt bonds in Q1
  • “Signs” credit supply reviving after LTRO liquidity
  • Italian businesses need to boost equity
  • Short-term bank loans hard to use as ECB collateral

Dow Jones reporting.