First an inconclusive election, then a credit rating cut for Italy. It keeps troubling the markets and testing them with each bond auction. Do investors have the patience for all this?
Jens Weidmann, the Bundesbank’s president, says that the reform course in Italy “has been brought into question” by the elections. His message for Paris was even more direct: France is floundering in its reform drives, though the country should be seen as a role model in terms of sticking to the rules with regard to consolidation.
The UK seems determined to continue on the reform path – particularly its banking sector. Finance Minister George Osborne’s plan to force banks to ring-fence their investment banking operations from their retail arms looks tough for lenders, but not according to the Parliamentary Commission on Banking Standards.
We discuss all these topics with Jonathan Ferro from Bloomberg in this edition of Business Weekly.
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