ROME, Italy (AFP) — Italy will pay up to 17 billion euros ($19 billion) to break up two insolvent Venetian banks, which have posed a threat to the country’s banking system, the government announced Sunday. Both face bankruptcy and European authorities had urged Italy to devise a rescue framework, selling off the good assets of the stricken Banca Popolare di Vicenza and Veneto Banca and transferring their toxic assets to a “bad bank,” essentially financed […]
Tag: BAILOUT
Ball in Greek parliament’s court for bailout deal, Finland’s Stubb says
(REUTERS) Euro zone finance ministers said on Sunday (July 12) some issues remained before they could give the green light for a third bailout programme for Greece. They asked Greece to show it was serious about the reforms it pledged to implement by getting them approved in parliament in the coming days. Some laws will have to be passed by Wednesday and the entire package endorsed by parliament before talks can start, ministers said. […]





