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Italy’s Ailing Banks

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The Next Big Thing to Worry About that you’ll soon be reading about in the financial press is Italian banks.  Some Italian banking stocks fell more than 30% after the Brexit vote on fears that the Eurozone will experience weaker-than-expected economic growth.  Worse: the Italian banking system now reports that nearly $400 billion worth of its collective loans are nonperforming—about 18% of the total.  Compare that with the fact that, at the height of the financial crisis, only 5% of the loans in U.S. banks were categorized as nonperforming.

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