“I think that the potential of Italy is considerable, because it possesses a human resource which is of exceptional quality. The country has an entrepreneurial spirit which is quasi unique in the euro area, together with a capacity – including at very small enterprise level - to innovate which you don’t see in all countries.
The explosive growth of subprime mortgage lending in recent years was yet another facet of the broader credit boom. Expanding access to homeownership is an important social goal, and responsible subprime lending is beneficial for both borrowers and lenders.