Italy

Reader Anna Salyi, a Catholic in Hungary, sends two great e-mails. I publish them with her permission:

In what has been an approximate repeat of the Monday overnight session, global stocks and US futures rose around the world as oil prices climbed toward $44 a barrel, with risk-sentiment pushed higher by another plunge in the Yen which has now soared 300 pips since the Friday post-payroll kneejerk reaction, and was trading above 109.20 this morning.

Submitted by Mike "Mish" Shedlock

License To Steal: Italy’s Highest Court Rules “Theft Not A Crime If Hungry”

In a ruling sure to heighten migration tensions in the EU, Italy’s highest court rules “Theft Not a Crime if Hungry“.

Stealing small amounts of food to stave off hunger is not a crime, Italy’s highest court of appeal has ruled.

 

Judges overturned a theft conviction against Roman Ostriakov after he stole cheese and sausages worth €4.07 (£3; $4.50) from a supermarket.

 

Source: assets.bwbx.io

Italian banks have been facing rough seas for quite a while now as the total amount of non-performing loans and bad debt is piling up now. The Italian state has been trying to find a solution for this increasingly important problem as all of its banks continue to report high write-downs on the value of their assets, which is undermining the health of the entire financial system in the country.

Submitted by Jeffrey Snider via Alhambra Investment Partners,