Premier Giuseppe Conte's
government on Sunday approved a 900-million-euro bailout of
southern Italian lender Banca Popolare di Bari.
The money has been allocated to Invitalia to finance
Mediocredito Centrale (MCC) and enable it to buy a stake in
Banca Popolare di Bari.
The aim is to create an investment bank that can support
business in Italy's less wealthy southern regions.
Banca Popolare di Bari was put into administration on Friday
after saying it urgently needed a big capital increase.
The rescue has caused tension within Conte's ruling
coalition.
In the past the 5-Star Movement (M5S) was highly critical of
bank bailouts organized by previous governments led by its
current coalition partner, the centre-left Democratic Party
(PD).
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