The Bad Smell of Spain's Wage Cuts; Italian Banks to See Gains on Bank of Italy Revaluation - Reuters TV

Source Reuters TV (video below):

Nov. 15 - Rubbish piles up in Madrid as cleaners protest 40% wage cuts and layoffs. Spain might need to shrink sky-high unemployment, but brutal wage cuts aren't a miracle cure, says Breakingviews.

They also mentioned that Italian banks will soon make a killing on their Bank of Italy stakes when the central bank gets revalued, which could help repair their balance sheets, boost Core Tier-1 capital ratios (if allowed), and increase taxes to the government. Italy's banking sector is still suffering from loan losses and trying to meet the ECB's capital requirements. Here's more on that from early October and November.

Bank of Italy revaluation seen boosting banks' capital (Reuters):

Italy's central bank is preparing to revalue its share capital, stuck at a value of 156,000 euros set in 1936. The Treasury estimated in a document obtained by Reuters that figure could be raised to as much as 7 billion euros ($9.5 billion).

Bank of Italy says bad loans will continue to rise next year (ForexLive, 11/12/2013)
Italian banks told to raise 1.2 billion euros for ECB review (Reuters, 11/12/2013)
Italian banks near saturation point on government debt (Reuters, 11/5/2013)

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