BOI head Visco back on this tack
- Sees 2013 GDP contracting by around 2%
- growth in 2014 around 0.5%
- high degree of uncertainty
Yes, and ?
- can not afford to lose confidence of investors
- must maintian sensible budget policies and continue reforms
- concern of international analysts on Italian bank solidity not to be underestimated even if not always well founded
- banks must continue to strengthen capital base, cut costs while continuing to lend
- sees credit market tensions still in months ahead
Is it me or do all these guys state the very obvious?
