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Milan stock exchange near eurozone pre-crisis levels

FTSE approaching 20,000 point threshold last seen in July 2011

15 January, 15:39
Milan stock exchange near eurozone pre-crisis levels (ANSA) - Milan, January 15 - Milan's leading stock exchange, the FTSE Mib, was approaching the 20,000-points mark late Wednesday afternoon - a level last seen in July 2011 before a devastating eurozone crisis hit Italy.

The FTSE Mib rose 0.97% during the day to reach 19,921 points mid-afternoon, just shy of the level seen on July 5, 2011.

After that, financial markets were hit hard as the eurozone crisis began, combining a government debt crisis, a banking crisis and a growth-and-competitiveness crisis.

While the crisis started in Greece, it quickly struck at confidence in numerous other European markets - including Italy.

For months it was feared that Italy would fall into a Greek-style meltdown, a situation that led to the resignation of former premier Silvio Berlusconi in November 2011 and the appointment of a caretaker government headed by former European commissioner Mario Monti.