Top court suspends reform of coop banks

(ANSA) - Rome, December 2 - Italy's top administrative court, the Council of State, on Friday suspended a circular letter by the Bank of Italy with measures to apply the government's 2015 reform of the country's 'popolari' cooperative banks. The reform obliges Italy's multitude of popolari to turn into joint stock companies and aims to encourage mergers.
    The Council of State also deferred looking at the issue until after the Constitutional Court has ruled on the reform. The administrative court said it had doubts about legitimacy of limits on the right of withdrawal.