The Italian bank job
It may be a coincidence that the results of the EU banking stress tests are scheduled for publication as soon as the closing bell sounds at the New York Stock Exchange later today. Whether this timing was planned or not, at least it will give investors and EU decision makers ample time to decide how to react, or panic, before financial markets open on Monday morning. It may be too late to avert an Italian banking crisis whatever the results. Alas, non-performing