Europe is banking on a new stimulus program, hoping it prevent its flagging economy from tipping into recession this year
In January, Giorgio Caprino, co-owner of a toy importer based in northeast Italy, asked his bank to increase a credit line he needs to pay suppliers. A year ago, his bank would have waved the request through in less than a month, he says.
Today, with Italy in recession, Mr. Caprino is still waiting for an answer—and getting more nervous by the day. Suppliers “won’t send me anything if I don’t pay them,” he says.
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