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How Italy's Banks Could Cause The Next European Financial Crisis03:33Download

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The headquarters of Monte Dei Paschi di Siena bank on in Siena, in the Italian region of Tuscany on July 1, 2016. (Giuseppe Cacace/AFP/Getty Images)MoreCloseclosemore
The headquarters of Monte Dei Paschi di Siena bank on in Siena, in the Italian region of Tuscany on July 1, 2016. (Giuseppe Cacace/AFP/Getty Images)

Italy is facing a crisis with its banks that has worsened since last month's Brexit vote. Shares in the world's oldest bank, Italy's Banca Monte Dei Paschi Di Siena, have fallen by 45 percent in recent days, and some fear that the situation could ripple across the continent.

Here & Now's Robin Young talks with Time's Rana Foroohar about the Italian situation.

Guest

Rana Foroohar, assistant managing editor for business and economics at Time. She tweets @RanaForoohar.

This segment aired on July 7, 2016.

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