Intesa: Messina, we are incurring significant losses on government bonds

(Il Sole 24 Ore Radiocor) - “We are incurring significant losses on government bonds,” said Carlo Messina, managing director of Intesa Sanpaolo, during his testimony before the Senate’s Commission of Inquiry into the banking sector. Messina points out that, at an international level, the bank is under pressure due to its high concentration in Italian government bonds. “Without the banks,” he emphasises, “there would be no financing of public debt, so when we talk about banks, we look at their actual contribution.” According to the Roman banker, the capital losses that banks are currently incurring on Italian government bonds in their portfolios exceed the various benefits derived from public guarantees.

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