We cannot expect our economy to  1  See Ben S. Bernanke (2011), “Fiscal Sustainability”, speech delivered at the Annual Conference of the Committee for a Responsible Federal Budget, Washington, June 14. BIS central bankers’ speeches  5  grow its way out of our fiscal imbalances, but a more productive economy will ease the tradeoffs that we face.
The market’s assessment of the outlook for Italy’s banks has improved in recent months, leading to a robust recovery of their share prices.