Banca Popolare di Vicenza’s 2016 figures show a €1.9 billion loss, sparking concerns that its application for a state bailout may be deemed unviable by European Central Bank regulators because the lender’s core capital has […]
Both houses of the Italian parliament swiftly approved the government’s proposal to pump €20 billion into troubled banks (bank bailout). The votes came just hours after Monte dei Paschi di Siena said it will run […]
Monte dei Paschi’s liquidity is expected to run out in four months instead of 11 months as previously forecast, according to an updated document on the bank’s website. The headline doesn’t help as the clock […]
The first big challenge confronting Italian Prime Minister Paolo Gentiloni is finding a way to rescue the country’s troubled banks. He has proposed borrowing €20 billion to bail them out but will first need approval […]
Moody’s Investors Service changed its outlook for Italy’s banking system to negative from stable. Over the next 12 to 18 months, increasing loan-loss provisions will cut profit and decrease banks’ capital, the ratings firm said. […]
The Italian government, installed this week by Prime Minister Paolo Gentiloni, has drafted an emergency decree allowing the injection of government money into troubled financial institutions: Monte dei Paschi di Siena and three regional lenders. […]
Italy’s largest bank by assets is planning to cut 14,000 jobs over the next three years and raise €13B to strengthen its balance sheet. The latest reshaping of UniCredit (OTCPK:UNCFF) will be closely watched for […]
Italian Prime Minister Matteo Renzi announced his resignation after voters in a national referendum soundly rejected his proposed constitutional reforms. After Renzi’s announcement, the euro dropped to a 20-month low and European stock markets were […]
The Italian government has set a referendum on constitutional reforms for December 4. The plan aims to streamline parliament and the electoral system in the hope of bringing the country badly-needed political stability. According to […]
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