Money talks: Italian banks are the new Brexit
Money Talks from The Economist
The Economist
4.4 • 1.2K Ratings
🗓️ 6 July 2016
⏱️ 17 minutes
🧾️ Download transcript
Summary
Hosted on Acast. See acast.com/privacy for more information.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Attention at all passengers. You can now book your train tickets on Uber and get 10% back in Uber credits to spend on your next train journey. |
| 0:11.0 | So no excuses not to visit your in-laws this Christmas. |
| 0:16.5 | Trains now on Uber. T's and C's apply check the Uber app. |
| 0:29.6 | Hello. Hello, I'm Edward McBride, finance editor of the Economist, and this is Money Talks. This week our economics editor John O', talks about the crisis facing Italian banks. |
| 0:34.2 | Even though the Italian banks are not exposed very much to Britain, there is a link between Brexit |
| 0:38.6 | and the intensification of pressure on their shares in the past week. |
| 0:43.0 | And you've heard of cooked books, but what about missing books? |
| 0:46.2 | Stan Pinyal, our correspondent in South Asia, discusses one Indian company's misplaced accounts. |
| 0:51.4 | The airline's books have entirely vanished. It is a bit of a problem |
| 0:55.8 | for its creditors who are trying to get money back from the airline. |
| 1:00.1 | And finally, is cash worth the trouble? Sasha Nauter, our European finance correspondent, |
| 1:05.0 | wonders why we bother. |
| 1:06.4 | Cash is quite a lot of hassle. |
| 1:07.9 | It's quite expensive to handle. |
| 1:09.8 | If you're a retailer, you need to store it, |
| 1:12.4 | then have it securely moved to a bank it needs to be |
| 1:14.9 | washed it needs to be guarded it needs to be checked for all sorts of things |
| 1:19.9 | first though we had to Rome where Prime Minister Mateo Renzi is squaring off with the |
| 1:25.8 | European Union over his plans to bail out Italy's banks. |
| 1:30.0 | Last week as Brexit engulfed the markets and sent Italian bank shares into a tail spin, |
| 1:35.0 | Mr Renzi reiterated his view that the Eurozone's budget rules were crimping growth. |
| 1:40.0 | Mr Renzi would like Europe to put more emphasis on promoting growth and investment and less on balancing the books. Mr. He's banks are saddled with too many bad debts and so are too weak to help revive the economy by extending new credit. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from The Economist, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of The Economist and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.

