EU OKs State guarantee for Popolare Vincenza, Veneto Banca

(ANSA) - Brussels, January 19 - The European Commission on Thursday approved measures introduced by Italy to improve the liquidity of rescued banks Banca Popolare di Vicenza and Veneto Banca.
    "The European Commission has found Italian plans to support the access to liquidity of Banca Popolare di Vicenza and Veneto Banca with a State guarantee to be in line with EU State aid rules," the Commission said in a statement. The measures are contained in a decree approved by the Italian government in December to help struggling lenders by allowing them to access a state guarantee on their debt.
    They are "targeted, proportionate and limited in time and scope," the Commission added.