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Parmalat Probe Eyes Role of Banks

The probe into the $180-billion financial collapse of Parmalat expands, as investigators focus on banks that may have helped hide the Italian food giant's troubles. Bank of America, Morgan Stanley, Deutsche Bank and others handled huge bond issues that kept Parmalat afloat -- and yielded handsome commissions for the banks and their managers. NPR's Sylvia Poggioli reports.

Copyright 2004 NPR

Sylvia Poggioli is senior European correspondent for NPR's International Desk covering political, economic, and cultural news in Italy, the Vatican, Western Europe, and the Balkans. Poggioli's on-air reporting and analysis have encompassed the fall of communism in Eastern Europe, the turbulent civil war in the former Yugoslavia, and how immigration has transformed European societies.