Reflections

The EU Bends the Rules for Italy's Banks, Again

Jun 27, 2017 | 21:53 GMT
Veneto Banca and Banca Popolare di Vicenza's assets were consolidated over the weekend. It's the second time the European Union's new Banking Union rules have been tested in Italy.
(TIZIANA FABI/AFP/Getty Images)

Over the weekend, two of Italy's most troubled banks were wound up: The good assets of Veneto Banca and Banca Popolare di Vicenza were taken on by Intesa Sanpaolo, a larger peer, while the bad assets were moved to an underperforming bank to be financed by state funds. Overall, the...

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