Bank of Italy Governor Ignazio
Visco on Wednesday warned of "serious consequences" for families
and banks if the recent rise in the yields on the nation's State
bonds continues for a "prolonged" period of time.
"Their increase depresses the value of savings accumulated by
families," Visco said in a speech for World Savings Day.
He said that households hold around 100 billion euros of
State bonds, directly or indirectly, while the banks and
companies that manage their savings have around 850 billion.
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