Analysis by ECB staff shows that the pace of deleveraging is faster in countries that have a strong and effective legal apparatus. From this perspective, the recent reform of insolvency law in Italy is welcome. It is estimated that the average length of bankruptcy procedures will be halved. Foreclosure times are also expected to decrease significantly.
012234     8 8!8  88 998  g IQBE?POQRVXY h  $    43  3  98 641 41  1839  476  4 8 36    3 8 4379 34 24 73 6 3 79  3  2 15 5  66 3 6713  5 7 6 0  1 35 134 6713  $  * 2 7 60132 7 +  3 5 327 6362 5  67 5   007  632 370  9 96 007  9  0127 007 9 97  9 9 57 910 010.  :?+6+   9   H H   33 63    5412