Concern grows over long-term stability of italian sovereign debt

Concern grows over long-term stability of italian sovereign debt Italian banks are selling off their domestic sovereign debt at unprecedented rates, leading to concerns that they will be hit hard when the European Central Bank ceases quantitative easing. Italian banks reduced their holdings of sovereign debt by €12.6bn in December, and by €40bn in the final three months of 2017, equivalent to 10.5pc of stock, according to analysis by investment advisory firm Jeffries. Marchel Alexandrovich of Jeffries said: “This move in recent months is unprecedented, and in...