21 billion euros. This is the figure that, according to Mediobanca Securities analysts, would be useful for Italian banks to increase coverage of doubtful loansthus aligning it with European standards. In fact, a study published today shows that the average coverage of doubtful loans by Italian institutions stands at 39% (ranging from 43% for Unicredit to 24% for Intesa Sanpaolo), far below the European average, which is at 53%.
According to the study, to put the accounts in order, action could be taken on the 2012 budget, charged to the accounts for the fourth quarter. The idea relaunched by Mediobanca Securities is that of create a "bad bank", financed by the ESM with a capital of 18 billion eurosinto which suffering can flow.
"For the European institutions – explains the report – it would be very difficult to deny this possibility to Italy", bearing in mind that such a possibility has already been granted to Spain and considering Italy's 125 billion contribution to the ESM. However, Italy's political uncertainty could hinder this project.
