Bank of Italy and ECB man Ignazio Visco plays down the worries over NPL's

  • There's reasons to believe that concerns over NPL's are somewhat overstated
  • Market concerns over NPL's must be taken seriously
  • Italian banks gross NPL's are certainly sizeable
  • The deterioration in Italian banks credit quality has abated recently
  • Italian rules to speed debt recovery is important for NPL's
  • Italian and EU bank stocks have been hit by uncertainty over assets and rules

I'm trying to work out how much of this is a sale pitch for the banks they're trying to flog ;-)