Italian PM Berlusconi is on the wires saying that bank nationalization is being discussed at a theoretical level on the international level.
It’s moved well beyond that, Sil. Germany just passed a law allowing for bank nationalizations and the US has to be prepared for that eventuality if big US banks fail Geithner’s “stress-test”. Just look at the US bank stocks; the market takes nationalization as a very credible threat.
Berlusconi suggests Italian banks may make requests for help to reinforce capital.
