22.11.2018 | Greek crisis returns as Italian banks enter the danger zone
by Ambrose Evans-Pritchard - The Telegraph
Greece’s financial crisis has come back to the boil as Athens draws up emergency plans to stabilize the banking system, raising concerns that the country may ultimately need a fourth EU rescue to escape its depression trap.
Global risk aversion and contagion from Italy’s parallel banking drama has lifted a lid on the festering legacy of bad debts, and exposed the implausible methods employed by Greek regulators and the EU-led troika to camouflage the problem.
Greek bank shares slumped a further 6pc on Tuesday after five days of falls. They are now down by 60pc since May, chiefly on fears of drastic state intervention to shore up thinning capital buffers.
The article's text in full is available at https://www.telegraph.co.uk/business/2018/11/20/greek-crisis-returns-italian-banks-enter-danger-zone/