the banking system is bankrupt. In Italy in the last ten years many small banks have gone bankrupt, others have been absorbed.
There are new mergers between the major banks to keep the network alive but only for a short time
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The entire European banking system is a total mess. You are right, there is nothing that the Italian banks can do. They are at the mercy of the ECB which is constrained by Germany and France.
For close to a year I said watch the European banking system, this is where the issues are.
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