Euromoney's latest coverage of Europe’s fourth-largest economy as its banking sector stands on the brink.

Sofferenze loans – literally, 'the suffering' – make up 60% of Italy’s non-performing loan stock. At €200 billion, that’s some 11% of the country’s GDP. Fears about the fate of Europe’s fourth-largest economy as its banking sector stands on the brink have centred around the world’s oldest bank – Monte dei Paschi di Siena. The European Central Bank has had Monte’s feet to the fire to clean up its balance sheet. But, surrounded in Malebolge-like cliffs of bad debt of about €50 billion and having burned through €8 billion of freshly raised capital before, plans to get the bank out of the eighth circle of hell have been fraught with problems. Euromoney has collected its best features from recent months covering the Italian loan problem. Together, they represent a thorough and fascinating look into the Italian banking crisis.

SSM’s Angeloni: Integration will help beat US banks

SSM’s Angeloni: Integration will help beat US banks

Euromoney talks to ECB Single Supervisory Mechanism board member Ignazio Angeloni about the challenges the SSM faces, and how eurozone integration, and in some cases bank mergers, could help improve European banks’ competitiveness.

UniCredit: Mustier’s magical year

UniCredit: Mustier’s magical year

As a self-described ‘insider-outsider’, Jean Pierre Mustier’s return to UniCredit has transformed the image of Italy’s biggest bank – inside and out – over an extraordinary 12 months as CEO.

Taxpayers bail out Italian banks

Taxpayers bail out Italian banks

Just two weeks after Banco Popular’s rescue was hailed as a triumph of Europe’s post-crisis resolution regulation in action, Italian taxpayers are footing the €17 billion bill for the collapse of two long-troubled lenders.

ECR survey results Q3 2016: China, Italy, Nigeria mar stabilizing global outlook

ECR survey results Q3 2016: China, Italy, Nigeria mar stabilizing global outlook

The calming of the political shock of Brexit, with oil prices now receiving Opec support, is preventing global risks from worsening, yet with a referendum looming in Italy, elections in the US and Europe to come, not to mention frail banks and several countries mired in difficulties, it might be the calm before another global storm.

Inside Italy’s bad-debt heartlands

Inside Italy’s bad-debt heartlands

Italian banks have allowed non-performing loans to swell to such numbers that they are now a central concern for the European and global financial system.

Italy: ECB’s first merger brings more worry

Italy: ECB’s first merger brings more worry

The ECB’s demand for a €1 billion capital increase in the banking union’s first big merger between Banco Popolare and BPM has dowsed hopes for a slew of similar deals that might add value to banks that desperately need it.

Italian banking: Squaring the circle

Italian banking: Squaring the circle

Italy’s banks cannot deal with their NPLs unless they have capital, but they are not being allowed to recapitalize until they have dealt with their NPLs.