1/6  BIS central bankers' speeches  There is cause for concern that reforms in Italy will stall once again. And this would be a troubling development, not just for Italy. For years now, Italy has been plagued by anaemic growth, very high government debt and piles of bad debt on banks’ balance sheets.
2  BIS central bankers’ speeches  Global liquidity: regional mandate facing global challenges A more structural issue basically all central banks have to tackle is abundant global liquidity. To many scholars and practitioners “ample global liquidity” has been repeatedly used as one potential explanation for financial developments before the financial crisis – and again more recently.