Mara Monti

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    Assessing the impact of the ECB’s Corporate Sector Purchase Programme on SMEs

Assessing the impact of the ECB’s Corporate Sector Purchase Programme on SMEs

The European Central Bank’s Governing Council is due to hold a policy meeting on 26 October, with many observers anticipating there could be a change to the ECB’s monetary stimulus programme. Corrado Macchiarelli, Mara Monti and Andrea Vedolin examine some of the measures that should be considered as the ECB looks to respond to changing conditions in the euro […]

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    Italy versus Spain: Two measures for solving the same banking problem

Italy versus Spain: Two measures for solving the same banking problem

On 24 June, the Italian government announced that it would intervene in two banks, Veneto Banca and Banca Popolare di Vicenza. Both banks were to be wound down with each bank’s good assets being sold to the Intesa Sanpaolo banking group. Mara Monti compares the affair with the case of Spain’s Banco Popular, which was saved from collapse just a […]

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    Is Italy’s recent support to its banks the start of a new wave of public intervention in the EU?

Is Italy’s recent support to its banks the start of a new wave of public intervention in the EU?

The banking crisis in Europe has three distinct legs according to Lorenzo Codogno and Mara Monti. The first leg was purely financial contagion from the sub-prime crisis in the US to toxic assets held in bank portfolios in Europe, while the second wave was equally intense, amid the negative feedback loop between banks and sovereigns. The third wave is […]

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    Italy cannot afford to allow political instability to affect its troubled banking system

Italy cannot afford to allow political instability to affect its troubled banking system

One of the key concerns raised since Matteo Renzi’s resignation as Italian Prime Minister is that a period of financial instability could damage Italy’s already fragile banking system. Mara Monti writes that although the short-term market reaction to Renzi’s resignation was fairly mild, there may be a more severe reaction if the political situation cannot be resolved before the […]

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Watch Italy’s referendum for potential banking problems

Italy’s constitutional referendum is fast approaching and financial markets are already jittery. Lorenzo Codogno and Mara Monti write that while some observers have pointed to the risk of the Five Star Movement getting into power, or even Italy leaving the euro, these are unlikely developments, at least in the short term. The real issue is not about political instability, […]

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