MUNICH (Reuters) - The troubles in Italy’s banking sector are not having any impact on the mood in corporate boardrooms around Germany and neither is the election of U.S. Republican Donald Trump, an economist at the Ifo institute said on Monday.
“The Italian crisis is not having any effect. The markets know that the ECB (European Central Bank) is ready to use a fire extinguisher,” said Ifo economist Klaus Wohlrabe.
Ifo’s business climate index rose to its highest level in almost three years in December. Wohlrabe said the falling euro was making industrial firms more upbeat while German consumers were still spending freely.
Reporting by Joern Poltz; Writing by Michelle Martin