Investors are braced for another bout of turbulence on global markets ahead of the release of special reports on the financial health of Italys ailing banking sector.
On Friday evening (AEST), the European Banking Authority will publish the findings of its financial stress-testing of 50 banks in the European Union, including Italys five largest banks that account for more than 80 per cent of lending in the country.
The results are almost certain to confirm that one or more of Italys leading banks are on the brink of collapse, and could trigger another bailout crisis for the European Union.
Italys economy is barely recovering from a five-year depression that has put more than one-third of young adults on the dole, and severely stretched hous…
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