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EXCLUSIVE-Italians inquire about moving money abroad - Banca Mediolanum CEO

Updated: 07-11-2018 21:59 IST
Clients of one of Italy's biggest asset managers, Banca Mediolanum, have been asking about ways in which they can move their savings abroad, worried about volatile Italian markets, the company's chief executive told Reuters on Wednesday.

Italian government bonds and the Milan stock market have slumped since a new populist and eurosceptic government took office in June, raising concerns that the euro zone's third-largest economy could leave the single currency.

Markets have also sold off on fears that the government's proposed 2019 budget could add to its mountain of public debt.

"The country is sound.... but all this uncertainty is creating tensions and fear among investors," Massimo Doris said in an interview.

"Some clients are asking us about ways to move some of their money abroad, in a transparent and legal way. And this is a kind of question they did not put to us last year," he added. (Reporting by Gianluca Semeraro, writing by Giulio Piovaccari, editing by Mark Bendeich)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)