Re:Italy’s teetering banks will be Europe’s next crisis
by davidw on Monday July 11, 2016 @11:42AM
(#12071797)
> But regardless, the problem in Italy is simply that not enough people are paying back their loans.
Bingo! Guy who "owns" apartment upstairs from ours in Padova stopped paying for it several years ago. He doesn't pay the apartment fees either, meaning we have to pay for him. He had his furniture and other stuff repossessed a few years back. In short, as far as we can tell, he's insolvent. And yet, he's still there, and the bank won't take action against him, because if they do, then it shows up as 'bad debt', rather than 'temporarily in arrears' or whatever.
Bingo! Guy who "owns" apartment upstairs from ours in Padova stopped paying for it several years ago. He doesn't pay the apartment fees either, meaning we have to pay for him. He had his furniture and other stuff repossessed a few years back. In short, as far as we can tell, he's insolvent. And yet, he's still there, and the bank won't take action against him, because if they do, then it shows up as 'bad debt', rather than 'temporarily in arrears' or whatever.