Tuesday, November 27, 2012

450,000 Businesses Shut Down in Italy; Non-Performing Loans Jump 15.3%, Write-Downs 21.6%

by Mike Shedlock, Global Economic Analysis:
Here are a couple of interesting economic links from Italy courtesy of reader Andrea. The translations from Italian are a bit choppy, but the gist of the articles is easily understandable.
450,000 Businesses Shut Down in Italy in Three Years
La Stampa reports 450,000 Businesses Shut Down in Italy in Three Years.

In just three years, from 2010 to 2012, about 450,000 companies closed with a loss of over 300,000 jobs, while the Italians caught up in terms of wear [usurious loans] increased to 600,000.
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