Diktat ECB and a sick system: Popular peak – Wall Street Italian

ROME (WSI) – The of Popular industry it is in serious trouble: the accounts are in the red, the shareholders are rebelling, and customers are afraid to see their savings depleted as a result of the new rules of bail-in. All while the ECB imposes his will and the outbreak of some criminal scandals has called into question the mismanagement of the banks, the victim of a dangerous web of interests and exchange of favors between managers and entrepreneurs . therefore, it should not be surprising, given the recent developments, that the banking sector is the worst in Europe this morning in Piazza Affari.

Mario Draghi lied when the last monetary policy meeting in January said that the banks after the introduction of bail-in regime, or to rescue an institution in crisis with money to creditors and depositors with more than 100,000 euro deposited, there was nothing new to report.

the ECB president said the alarms were exaggerated, hinting that the case of the four Italian banks saved by a decree of the government would remain isolated. Actually a half months after you turn out that Veneto Banca Pop Vicenza and Banca Carige sailing in troubled waters and the same central Frankfurt institute, which is about to take on a role as Unique vigilante in the euro area, he asked the two groups to change soon.

In the first two mentioned institutions continues haemorrhage of members, in revolt . Ligurian bank, reported after the red in 2015, the ECB has asked to launch a new business plan by March 31, which provides for a reduction in risk. The Banca Carige securities helped off the pitch and give about 10 percentage points in the stock market this morning.

The Malacalza reference shareholders have asked for a change at the top , proposing Giuseppe Tesauro, President and Guido Bastianini CEO. The management will have much work to do: in 2015 the loss of Carige was 101.7 million euro.

The second one is called upon to launch a sharp change of direction with the shareholders’ meeting of Saturday. The ECB wants to see a sudden transformation in Spa, with subsequent listing on the stock exchange, and a capital increase .

reduce risks: a titanic

about the reduction of risks and liquidity shortage problems to address possible risks from the crash representatives of non-performing loans in the portfolio, to unnerve the fund is also the delay and problems encountered in the operation of merger between Banco Popular and Pop Milano .

in the case of marriage, the two groups have managed a nice hot potato They will have to compress approximately 8 billion euro of loans bank (non-performing loans, NPL) in common, liquidating as soon as possible but without losing too much money in doing so.

The enterprise is titanic . The latest hypotheses talking about the assignment in a time span of three and a half years of impaired loans. It also would point to a “three-headed monster” at the top, that is to governance with three vice-presidents.

All this while the new stress test of the European authorities do not provide for failures because will not judge the levels of capital that was found in the case in recent tests, but whether it will assess the resilience to recession and very severe confidence crisis.

Hazardous plots among managers and entrepreneurs

the expropriation of the house for borrowers late instead apparently has nothing to do with the trend in today’s pressure to Piazza Business. The government has decided to extend from 7 to 18 do not pay the mortgage payments for a possible seizure of property by banks.

This is an amendment of a dossier still in the making, but as reported bank lenders to Financial Trend Analysis “foreclosure and sale of property by the families for the banks last resort which is used as little as possible.”

“the criticality of the world emerged from the credit bail-in of the four regional banks and crises Popolare di Vicenza and Veneto Banca are linked to plots among managers and entrepreneurs who obtained easy loans in exchange for the repurchase of securities, and the support to the same manager at the meeting. “

in the popular sector have come to light scandals in recent times, such as the establishment of real blacks funds . In the case of Pop Vicenza prosecutors investigating a possible case of criminal conspiracy and the creation of a parallel bank by assets “diverted.”