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EU Commission sees solution on Veneto banks rescue in coming weeks
April 3, 2017 / 4:31 PM / 8 months ago

EU Commission sees solution on Veneto banks rescue in coming weeks

BRUSSELS, April 3 (Reuters) - The European Commission sees a possible solution in the coming weeks on the bailout of two small Italian banks from the Veneto region, a spokesman said on Monday.

Banca Popolare di Vicenza and Veneto Banca have applied to receive state support using an exception to EU banking liquidation rules that would allow public money to be injected in the two lenders with a limited contribution from the banks’ creditors.

The Commission said it was in “constructive talks” with the Italian authorities and the European Central Bank on the bailout request.

“All players are sitting around a table with the objective of coming to a common solution that is efficient, sustainable and in the interest of financial stability,” the spokesman said.

“We are confident that a solution on this basis can be found in the coming weeks,” he added. (Reporting by Francesco Guarascio @fraguarascio, editing by Julia Fioretti)

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