2  In the four years from 2009 through 2012 bond issues by Italian non-financial corporate groups on the international markets were negligible, while those by French and German groups were large and growing. 2  BIS central bankers’ speeches  than bank credit – is especially disadvantageous in the present cyclical phase.
12  One contribution is in Bartiloro L., R. De Bonis, A. Generale and I. Longhi (2008), The financial structures of the leading industrial countries: a medium-term analysis, paper presented at the conference “Financial Accounts: History, Methods, the case of Italy and International Comparisons”, Perugia, December 2005. 10  Designed by the Printing and Publishing Division of the Bank of Italy