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 ;-)