Veneto Banca and Banca Popolare di Vicenza,blighted by bad loans and a mis-selling scandal, will open as normal on Monday, and says finance minister The Italian government is stepping in to wind up two failing lenders and prevent a bank run,at a total cost of up to €17bn (15bn).
After an emergency cabinet assembly on Sunday, ministers agreed to a decree splitting Veneto Banca and Banca Popolare di Vicenza into ‘reliable’ and ‘bad’ banks, or keeping branches open. Related: Italian banks are living on borrowed time … and money Continue reading...
Source: theguardian.com