Italy ’s banks are due for a severe banking crisis in the coming quarters , as the country ’s GDP has plummeted since 1995 . Whilst Italy ’s neighbouring countries overcame the fallout from the financial crisis , Italy ’s GDP has sunk further since 2009 . You know a bank is in trouble when its stock drops 84% in less than a year and still no one sees a bargain. Before joining the EU , Italy had struggled with the economy , being an “ economic miracle ” in the 1960s and 1970s due to its high levels of design and manufacturing production . Now , the country risks destabilising its position as the eight largest economy in the world as its banks undergo a crisis and decrease the value of the large amount of sovereign bond that it holds in check .
Italy ’s banks are due for a severe banking crisis in the coming quarters , as the country ’s GDP has plummeted since 1995 . Whilst Italy ’s neighbouring countries overcame the fallout from the financial crisis , Italy ’s GDP has sunk further since 2009 . Before joining the EU , Italy had struggled with the economy , being an “ economic miracle ” in the 1960s and 1970s due to its high levels of design and manufacturing production . Now , the country risks destabilising its position as the eight largest economy in the world as its banks undergo a crisis and decrease the value of the large amount of sovereign bond that it holds in check .