Two days after the European Central Bank (ECB) warned that Banca Popolare di Vicenza and Veneto Banca were failing or likely to fail, the Italian government came to the rescue with a €5.2 billion ($5.8 billion) bailout package at the end of June. Under the deal, the good assets of the banks were sold to… Read More >>
Referendum Spurs Turmoil for Italian Banking
Italian Prime Minister Matteo Renzi resigned on Monday, Dec. 5, after suffering a heavy defeat in a referendum on his flagship constitutional reforms. The result — 60 percent voting against to 40 percent voting for — has plunged the country into political turmoil and sent banking stocks to new lows. In particular, Italian banks, which… Read More >>
