2.7 mn Italians risk default in June – FABI

(ANSA) – ROME, MAR 22 – Some 2.7 million Italian businesses
and households risk default due to the COVID emergency at the
end of June, independent banking association FABI said Monday.
    This is because a moratorium on almost 300 billion euros of bank
loans is set to run out at that date, it said.
    It would push the families and firms to the brink of financial
collapse and being classified as in default by new Euroepan
Banking Authority (EBA) rules.
    In around 100 days, FABI said, the last extension of the
moratorium will end.
    It has so far permitted a freeze on the repayments of 1.3
million companies for a total of over 198 billion euros and 1.4
million citizens for over 95 billion, the association said.
    That is a total of more than 293 billion euros. (ANSA).
   

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