Citigroup's Willem Buiter: Italian Banks Are Wonky

The video discusses the unprecedented economic conditions and policy challenges faced by Europe, focusing on the risks posed by Italian banks and political uncertainties. It highlights the unresolved banking issues in Italy, the need for political will to recapitalize banks, and the implications of upcoming referendums. The discussion also covers the clash between politics and bail-in rules, emphasizing the cultural shift required in European banking to address these challenges.

What are the implications of negative yields on sovereign debt for Italy?

In what ways can political will impact the recapitalization of banks in Italy?