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UniCredit well placed to weather Italian debt volatility – CFO

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Reuters UK

MILAN (Reuters) – UniCredit is well placed to withstand volatility in Italian government bonds, the group’s finance chief said on Wednesday, dismissing concerns about the impact of a recent widening in spreads with German debt. The premium Italian bonds pay over safer German Bunds hit a two-year high this month, at more than 2 percentage points, as the European Central Bank (ECB) moves to tighten its ultra-loose policy, which has been a particular boost for indebted southern European countries. As large holders of domestic government debt, Italian banks are exposed to falling bond prices, whic…

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