Print section Print Rubric: A taxpayer-funded liquidation of two Italian lenders is ugly but pragmatic Print Headline: Buckets of ducats Print Fly Title: European banks UK Only Article: standard article Issue: Trump’s Washington is paralysed Fly Title: European banks Location: MILAN Main image: 20170701_FNP002_0.jpg BANKS sicken slowly but die fast. For years Banca Popolare di Vicenza and Veneto Banca, in the prosperous Veneto, in north-east Italy, had been plagued by mismanagement. Even criminal investigations are under way. For months the Italian government had been wrangling with European authorities over the terms of a bail-out. For weeks it had seemed improbable that private investors would put in money alongside the state, as the European Commission insisted. On June 23rd the ...
from Banking Services http://www.economist.com/news/finance-and-economics/21724401-splashing-taxpayers-money-not-pretty-it-pragmatic-complicated?fsrc=rss
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