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Wednesday, August 24, 2011

Gaddafi's Stake In UniCredit Has Helped Bolster Italian Banking System | Business | Sky News

Gaddafi's Stake In UniCredit Has Helped Bolster Italian Banking System | Business | Sky News: Trade in shares of Italy's largest bank has been suspended - as it emerges that events in Libya have helped prevent a collapse of the Italian banking system.

Unicredit logo on bank in Milan

UniCredit's share price tumbled as a solution for eurozone debt appeared distant

UniCredit's share price has plunged in the past month because of market fears over eurozone debt - and now share dealing has been halted due to volatility.

Although it may sound far-fetched, the Libyan revolution of the past six months may have saved it and other Italian banks amid the crisis.

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