I have often remarked on the difficulties stemming from the incompleteness of the new framework and the lack of consideration of the risks associated with implementing the new legislation on banking crisis resolution.
Two sources of weakness The consequences of the double-dip recession for Italy are most clearly observed in the behaviour of two variables, radically different in nature and dimension, which owing to their rate of growth and current level are frequently cited as Italy’s main problems: namely, the public debt and the loans defined as ‘non-performing’ held by banks.