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The Eurovita affair “seems to me favorably channeled in the last few hours”, said Carlo Cimbri, chairman of the Unipol group.
“There is absolutely no systemic risk to the financial sector associated with Eurovita,” Cimbri added, arguing that it is a small company to which “400,000 people have recklessly entrusted their savings.”
For the company we are heading towards a “stew” between the five major insurance companies and the guarantee of the placing banks. The latter will have to discourage ransoms once it reaches the system solution.