Bank bailouts not the end of Italy`s bad loans saga
(WorldNews Italy)

MILAN, June 27 One of the first things Andrea Ricci did when he was promoted to head the new problem loan division at Italy`s Banca Nazionale del Lavoro this year was to launch a recruitment campaign. The shake up in an area sometimes viewed as a backwater by ambitious employees reflects a push by Italian banks to claw back bad debts that make up some 15 percent of total loans -- three times the European average. ......