The European Commission on Sunday
OK'd a plan for the public support of Italian banks, to be
activated by the government if necessary to stem potential
market turbulence, the EC said Thursday. The Wall Street Journal
said it was a State guarantee on 150 billion euros of liquidity
to create a preventive programme to help banks, to be activated
in 2016 alone and for solvent banks, compliant with State-aid
rules in "exceptional" circumstances. Premier Matteo Renzi has
argued that continuing Brexit-linked turbulence might unduly hit
Italian banks, already weighed down by bad loans, and require
exceptional measures.
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