The Sovereign Debt Crisis: The Impact on the Intermediation Model of Italian Banks

This chapter sets out to analyse the impact of the financial crisis, in particular since the start of the sovereign debt phase, on Italian banks and their intermediation model. The Italian banking and financial system showed more resilience than other national systems in the first wave of the global financial crisis, the so-called subprime phase (2007–2008), but the impact was much more severe in the second, sovereign debt and redenomination risk phase (2010–2012), and the system continues to show major signs of difficulty in the current phase of deep economic recession. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.