The extraordinary development of the euro bond market and the recent opening of the Italian stock exchange to international alliances will also help a system that had lost the market for corporate bonds and where firms’ recourse to the equity market is still limited.
In addition, the announced losses have been very large, and came as a bit of a shock to the market at a time when the State’s finances were already under pressure and with heightened market sensitivity to Sovereign debt issues in the euro area.