Deutsche Bank reduces Italian exposure
The most interesting aspect about Deutsche Bank’s results yesterday was the announcement that the bank has reduced its net exposure to Italy by 88%. FT Deutschland writes on its front page that the fall of the net exposures to under €1bn was mostly due to the purchase of CDS as a hedge against falls in their Italian portfolio. This showed, according to the paper, that international investors remained concerned about the spread of the crisis to southern Europe.
(Meldung aus dem heutigen Eurointelligence News Briefing)
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