Algebris CEO Serra Says Italian Banking Crisis Is Done

The video discusses the European banking system's response to the financial crisis, highlighting the varying levels of GDP used by countries to support their banks. It focuses on Italy's delayed response to its banking crisis and the acquisition of nonperforming loans. The video also examines the state of the banking union, arguing that it is a work in progress, with Italy committing significant funds to support the banking industry. The role of the ECB and ESRB in resolving these issues is also mentioned.

What is the current status of the banking union according to the speaker?

What actions has Italy committed to in order to support the banking industry in other European countries?