Bloomberg News

UniCredit CEO Said Italy Banks May be Spurned by Export Agencies

July 19, 2012

UniCredit SpA (UCG) Chief Executive Officer Federico Ghizzoni said he’s worried that recent credit rating cuts may lead export agencies to refuse to assume Italian banking risk.

“There may be problems in reciprocal guarantees among banks,” Ghizzoni said at a conference in Rome today. “We risk being less competitive compared to other countries.”

To contact the reporter on this story: Andrew Frye in Rome at afrye@bloomberg.net

To contact the editor responsible for this story: Elisa Martinuzzi at emartinuzzi@bloomberg.net


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