ECB's de Guindos: Contagion from Italy is limited; remains a possibility

The ECB Vice President Luis de Guindos, in a keynote speech at the opening conference of 21st Euro Finance Week in Frankfurt, commented on Italy's budget proposals/debt situation and said that contagion from Italy is limited, though remains a possibility.

Additional quotes:

   •  Risks arising from leverage and liquidity mismatches in investment funds are potentially systemic.
   •  We need to take a more ambitious policy approach to systemic risks.
   •  Extending the macro-prudential framework to the asset management sector and developing policy tools to address emerging risks will be important. 
   •  Italy main prominent case at the moment.