MILAN, March 7 (Reuters) – The Bank of Italy is hiring up to
five real estate consultants to assess whether banks are
correctly valuing property used as loan collateral amid
depressed market prices, potentially forcing them to set aside
more cash against defaults.
Collateral valuations are one of the biggest sources of
uncertainty for Italy’s banks as they prepare for a Europe-wide
review of the sector, starting this month, with seven banks
already planning to raise more than 7.5 billion euros ($10
billion) to shore up their balance sheets.
Sorrentino’s “La Grande Bellezza” wins Academy Award (Oscar) for best foreign movie. Well deserved. #Italy
GORRETO, Italy (Reuters) – Gorreto, population: 105, was always small, but now the tiny village, nestled in a river valley in northern Italy, is on the brink of extinction.
Most of the remaining residents are over 60 and the primary school attended by Mayor Sergio Capelli, 72, closed about 30 years ago – a stark example of the nationwide demographic decline as Italians live longer and have fewer babies.