Saturday, December 6, 2008

Are Brussel Griffons Hyper?

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"Half of the families at risk of default." Insolvency and inability to cope with debts and mortgages: the Censis "Photograph" a country to its knees. Article from the Corriere della Sera.


The financial crisis puts "potentially at risk" an Italian family on two: almost 12 million, 48.8% of the total, households' denounce a real risk of default. " The findings of the 42nd report Censis on the social situation of the country, which also shows how seven out of ten Italians think that 'the earthquake in the markets could have a direct effect on their lives. " To determine the contributing risk 'investments in risky products, "mortgages, consumer credit and lack of accumulated savings.


Investments and loans - Among the families' potential danger, denouncing a concrete default risk, "Censis indicates first of all 2.8 million households (or 11, 8% of total) have investments in risky products, such as stocks or mutual fund shares: of these, 1.7 million (approximately 7.1% of Italian families) will have placed more than half of their savings. Then there are nearly 2 million households (8, 2% of the total) involved in the payment of the mortgage of the house where they live: these are almost 250 000 (1%) those who claim to be unable to meet deadlines for payment or who have had many difficulties in paying the installments. Are then added to the 3.1 million families (12.8%) who are in debt for the purchase of consumer goods: of these, 971 000 (4% of the total) have a debt of over 30% of income Annual family. Finally 3 million and 873 thousand households (16% of the total) do not have savings accumulated in any form "could be - says Censis - in the condition of not being able to cope any unforeseen costs or high price of goods of primary necessity. "


Fears for the future - Censis also highlights the concern of families facing the crisis in October 2008 respondents, 71.7% of Italians think that the earthquake in the course may have a direct impact on their lives, while only 28.3% say they can get out unharmed, "a feeling that strikes across" young and old, men and women, on the north and south, according to Censis, "but that is more deeply felt by those segments already hard put to the test in recent years as the low-income families with children "(the 81 is concerned, 3% of families with low economic level, compared with 66.2% of households with medium level).


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