Italy Dependent On ECB “Buyer Of Last Resort” As Foreign Investors Dump Bonds Amid Capital Flight
Authored by Mike Shedlock via MishTalk.com, Italy is increasingly dependent on the ECB to hold down bond yields as foreign investors dump Italian bonds like mad. Eurointelligence bills this as “Further Evidence of Capital Flight in Italy“. In a column earlier this week, Federico Fubini notes that, according to the Bank of International Settlements, in 2016 international banks reduced their exposure to Italy by 15%, or over $100bn, […]