Risks to Italian economy are many - Nomura

Analysts at Nomura argued that the risks to the Italian economy are many.

Key Quotes:

• "weaker external demand, political uncertainty and protracted fears derived from the US-China trade issue."
• "Financial conditions are starting to tighten – as shown by the Bank of Italy’s BLS – and banks are facing shrinking margins."
• "If this situation persists, adverse financial conditions could reverse any economic stimulus from a loose fiscal policy that the government wants to implement."
• "Italy’s balance of risks is tilted to the downside and keeping this in mind we will closely monitor this week’s data releases."