Credit crunch is continuing, says Bank of Italy

(ANSA) - Rome, September 30 - 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.