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Authorities: Italy's financial system stable

08-03-2011 08:32 BJT

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Italian authorities say Italy's financial system remains stable despite market tensions created by international uncertainties.

The comments were made after an emergency meeting of the Financial Stability Committee on Tuesday. The meeting took place behind closed doors at the Economy Ministry. It meant to discuss the market turmoil which has sent Italian bond yields soaring to record levels and hit bank stocks.

The yield, spread on Italian 10-year bonds against German Bunds, hit a euro-era high of more than 380 points. Yields on Italy's 10-year bonds climbed above 6 percent, a level generally seen as unsustainable in the long term. Italian prime minister Silvio Berlusconi is expected to address parliament about the financial crisis on Wednesday.

A woman walks past a shop window in downtown Rome August 2, 2011. Italy's financial
system remains stable despite market tensions created by international uncertainties,
a committee of senior Italian financial officials said after an emergency meeting on
Tuesday. REUTERS/Tony Gentile



Editor:Zhang Jingya |Source: CNTV.CN

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