Clamour for ECB action hits fever pitch with Italy all but shut out

11 Nov 2011

Despite Thursday’s relief rally and some prospect of a positive auction on Monday, SSA bankers and borrowers are reiterating calls for the ECB to rescue Italy after a week when the G8 sovereign neared an almost unprecedented loss of market access and the EFSF bail-out vehicle struggled to get even €3bn of bonds away.

With Italy needing €340bn next year for refinancing and its deficit, few market players believe it can complete its programme unaided — particularly with primary dealers increasingly alienated by losses endured at auction.

"I do not think Italy will be able to fund next year apart from via ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access:

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: or find out more online here.