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Italian companies ask for $20 billion in state-guaranteed loans: credit agency

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Large Italian companies have requested 18.5 billion euros ($20 billion) in state-guaranteed loans to weather the coronavirus crisis, state-backed export credit agency SACE said on Saturday.

Last month the Italian government approved a package of emergency measures offering liquidity and bank loans to companies hit by the health emergency.

One of the measures allows medium-sized and large companies to ask SACE to guarantee new bank loans, provided the firms refrain from approving dividend payments for a year. The credit agency said that banks had received 250 requests for state-guaranteed loans so far. It pledged to act quickly to ensure fresh funds were available for cash-starved companies, adding that once it received a request from a bank it could issue the guarantees within 48 hours.The motorway and airport units of infrastructure group Atlantia (

 

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The EU has given hundreds of billions to Italian banks who have lent it to Italian companies who have staffed it up the wall. Will this merely delay the inevitable Italian collapse and leaving of the Eurozone. The Italian economy cannot survive let alone thrive in the Euro.

Ask the Germans for the money ..

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