00:00Are you concerned about contagion from the Silicon Valley Bank in Europe?
00:05Well, we don't see a specific risk of contagion.
00:13Of course, we are monitoring the situation in close contact with the ECB.
00:21We appreciate, we take note of the initiative taken by the U.S. authorities
00:28to avoid in the U.S. a contagion.
00:32And also we stress the fact that European banks, all European banks,
00:40not only the biggest, the bigger, are applying the Prudential Basel standard.
00:48So directly there is no contagion.
00:54The possibility of indirect impact is something that we have to monitor,
00:59but at the moment we don't see it as a significant risk.
01:04Mr. Gentiloni, you say you don't see contagion,
01:07but when you look at what's happening in markets,
01:09European banks are really all down today.
01:12In some countries like Italy, you had even limit down at one point.
01:15Well, I think that an impact in remuneration of banks was to be estimated,
01:24to be, it was predictable.
01:28But this is one thing, assessing the fact that there is a real risk of contagion
01:36is a different thing.
01:37I don't think we have a real risk of contagion at the moment in Europe.
01:42So, thank you.
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