Italian banks are in desperate need of a bailout

In the meantime, we look forward to the next pan-European bank bailout, now that even Germany’s biggest bank has thrown in its support behind the proposal, which means Merkel and Schauble’s resistance will promptly evaporate in the coming days as insolvent banks across Europe once again get rescued by taxpayers, in the process further escalating populist anger at the treatment of banks, leading to more Brexit-like events and the further fragmentation of Europe.

http://www.zerohedge.com/news/2016-07-10/deutsche-banks-chief-economist-calls-%E2%82%AC150-billion-bailout-european-banks