Lorenzo Codogno Change Quotations

With a long-term horizon it will certainly change the situation, not only in Japan but globally ... because reduced liquidity is available for purchase of financial assets.

We don't see any change this year. Economic indicators seem to suggest there will be no change in interest rates in the short term.

At the margin, the change may be perceived as a small, dovish shift for the ECB governing council.

It would take a big global shock to change the prospects for at least modest growth in Europe.

As always, protectionism doesn't work. The past resistance to change has resulted in the Italian banking system being still affected by fragmentation, with plenty of small-scale players.