Italy’s finance minister INCREDIBLY blames nation’s banking crisis… ON BREXIT

As said in the previous post about Italy, it’s convenient to blame others for your problem to keep the attention away.

 

BRITAIN’S vote to leave the European Union (EU) is to blame for the disastrous state of Italy’s banks – and not Rome’s heavily criticised policymakers – according to the finance minister.

Pier Carlo Padoan has sought to deflect attention from himself against allegations the Italian government could have prevented the country’s current banking crisis by laying fault with the Brexit vote, despite the financial crisis hugely pre-dating the referendum.

The minister said instability of several of the banks aren’t the cause of the turmoil now rocking the Italian financial system, reported German newspaper Spiegel.

He said: “The trigger for the crisis in the last weeks didn’t originate in Italy.”

Padoan added that the current critical situation was instead “the result of the British referendum” which, alongside the resignation of David Cameron, had caused a “wave of uncertainty, that had grave effects on the world-wide financial markets”.

Italian prime minister Matteo Renzi reportedly now wants to inject around £35billion pounds worth of cash into the banks in a bid to restore confidence – even though this is against new EU rules.

Full article: Italy’s finance minister INCREDIBLY blames nation’s banking crisis… ON BREXIT (Express)

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