Italy intentionally causing a banking crisis? ๐คจ
"Italy surprises markets with the announcement of a 40% 'windfall' tax on banks" pic.twitter.com/HGycE4y8ud
— Financelot (@FinanceLancelot) August 8, 2023
โ ๏ธ ๐๐ง๐๐๐๐๐ก ๐๐๐ก๐๐ฆ ๐๐๐ง๐ง๐๐ก๐ ๐ฃ๐จ๐ ๐ ๐๐๐๐๐
Full Story โ https://t.co/XK4Cljl110
An index of euro zone banks .SX7E fell as much as 3.4% on Tuesday, after Italy approved a 40% windfall tax on banks for 2023. pic.twitter.com/eJEjTi6oTV
— PiQ (@PriapusIQ) August 8, 2023
Italy approves 40% windfall taxย onย banks, to be limited to 2023
Context: Italian banks have been enjoying a huge rally this year due to good profitability, robust CET1 ratios, generous distribution strategies. Unicredit alone is +70% YTDhttps://t.co/i4WncdTrNg
— Joumanna Nasr Bercetche ๐ฑ๐ง (@CNBCJou) August 8, 2023
Italian banks slump after govt introduces windfall tax. Deputy PM Salviniย announced a 40% levy on extra profits of lenders for 2023 as part of a wide-ranging decree approved at a cabinet meeting. Analysts estimate it will wipe 19% from bank earnings. Levy targets higher interestโฆ pic.twitter.com/O2KRZxG6cF
— Holger Zschaepitz (@Schuldensuehner) August 8, 2023