Italy intentionally causing a banking crisis? π€¨
"Italy surprises markets with the announcement of a 40% 'windfall' tax on banks" pic.twitter.com/HGycE4y8ud
— Financelot (@FinanceLancelot) August 8, 2023
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Full Story β 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 (@PiQSuite) August 8, 2023
Italy approves 40% windfall taxΒ onΒ 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 (@JoumannaTV) August 8, 2023
Italian banks slump after govt introduces windfall tax. Deputy PM Salvini 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 interest⦠pic.twitter.com/O2KRZxG6cF
— Holger Zschaepitz (@Schuldensuehner) August 8, 2023