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Bankers warn Italians must accept EU-compliant government
The New York stock market reacts to events in Italy
BANKERS warned today that Italians have no choice but to accept a government that agrees to play by the European Union’s economic rules.
The Milan stock index was down nearly 3 per cent, weighing particularly hard on banks, and Italian bonds suffered a plunge reminiscent of the worst days of the financial crisis of 2011.
The government’s borrowing rate for two-year money more than doubled by over 1.5 percentage points to 2.4 per cent, indicating a surge in investor concern.
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