Via FTAlphaville:
Following a turbulent week a fortnight ago, markets have calmed and were further assuaged by new finance minister, Giovanni Tria, saying on Sunday that “we are not discussing any proposal to exit the euro. The government is determined to avoid the materialisation of market conditions that push us towards an exit in any way.”
However the market turbulence has had a clear effect on the Bank of Italy’s balance sheet, according to Eric Dor of the IESEG School of Management. Here are the month-to-month changes for May, as computed by the IESEG: