The Governor of the Bank of
Italy said Tuesday the country's recession-hit economy is still
hampered by the credit crunch. "Credit to the economy continues
to shrink in several countries, including Italy," Visco said. He
added that "it is important that financing from the capital
markets increases" to make the economic system less dependent on
bank loans. Italy has slipped into its third recession since the
start of the global economic crisis in 2008.
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