Gareth Gore is an associate editor at IFR, where he writes about global capital markets across asset classes. He has published pieces ranging from the fallout from Russian sanctions, to Greek bank’s attempts at rehabilitation, and the resurgence of US shale producers. Before that, he ran the People & Markets coverage at IFR for five years. Previously, he was a correspondent at Bloomberg News in Madrid, where he wrote about the country's boom and bust.
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European banks could be pushed to sell their Italian, Spanish and Portuguese sovereign debt holdings and replace them with newly created “safe” securities under proposals designed to strengthen the region’s financial system.
Greece and its creditors were quick to hail the country’s triumphant return to the sovereign bond market as an important milestone as it prepares for financial independence once its current bailout ends just over a year from now.
UniCredit hopes to shift bad loans with a face value of €16.2bn off its books before the end of the month after signing an agreement with US funds Pimco and Fortress. The funds have committed to buy just over half of the portfolio for around €1bn.