Money

Italy rushes to approve decree law to keep two Veneto banks open

Italy rushes to approve decree law to keep two Veneto banks open

June 25, 2017

MILAN, June 25 — Italy is rushing to approve emergency rules outlining liquidation procedures for two failed banks in the northern Veneto region in time for them to open tomorrow. The government is set today to approve a decree law setting up rules that would let Intesa Sanpaolo SpA buy some assets of Banca Popolare di Vicenza SpA and Veneto Banca SpA at a token price and determine the state intervention needed to avoid losses for senior bondholders. The European Central Bank on... Read more

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Picture of the Day

Traders work on the floor of the New York Stock Exchange shortly after the closing bell in New York June 24, 2017. — Reuters pic

Traders work on the floor of the New York Stock Exchange shortly after the closing bell in New York June 24, 2017. — Reuters pic