Italy’s shaky economy: The fear returns

There is simply nothing with Italy: unemployment remains high, corruption is appalling. Now, a new banking crisis pushes the mood on the stock exchanges. Can I stop the downward trend?

Eve, everything was still beautiful. Christmas sales of trade was lush, the mood of most Italians is positive: it goes up. “We have lifted us out of the mud”, Prime Minister Matteo Renzi had cheered at his press conference at the turn of the year. 2015 is already great run and 2016 will even better. The “years of sadness” were over.

But Renzi had made the Bill without the banks.

Little Italy exchanges opened again, two houses of money corrupted the good mood in the country. The stock prices of the Carige in Genoa and the oldest Bank in the world, Monte dei Paschi di Siena, were for days on end in free fall. Until the middle of this week, 25 percent and Carige Monte dei Paschi lost almost 30 percent of its market value in comparison to before new year’s Eve. The stock exchange regulator Consob tried to slow down the descent by she banned so-called naked short selling of the stocks of the two institutions. (How about short sales?)

But the action brought nothing, the rates declined further. Apparently, it was not bad stock market sharks, which had triggered negative slide in the new base year.