Italian savers bank on post office to survive next crisis

Italian savers bank on post office to survive next crisis
 

Italians worried about the stability of their banks have found a new place to put their money: the state-controlled post office.
"Nobody knows where your money is safe today," says Leonardo Galli, a 58-year-old accountant who has resolved to move all his savings out of his bank to a current account with Poste Italiane (PST.MI), one of many who are deserting the banking sector.
"Poste Italiane is state controlled, this is a safeguard," he explains. He already channels his salary into a Poste Italiane account and pays his bills through a standing order made at a post... read more

 
18 October 2016 in Business, Views: 44
Source: Reuters
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