BRUSSELS, June 13 (Reuters) - The European Commission is seeking a solution for two ailing banks from Italy’s Veneto region that would avoid losses for senior bondholders, a spokesman said on Tuesday, stressing that in any case depositors would not be hit.
Banca Popolare di Vicenza and Veneto Banca are seeking public and private support to avoid a possible liquidation by the end of the month.
“Constructive contacts are ongoing in order to reach a solution for the two banks in line with EU rules, without the bail-in of senior bondholders. Depositors will in any case be fully protected,” a Commission spokesman for competition said on Tuesday. Margrethe Vestager is the commissioner in charge of competition.
Earlier on Tuesday Italy’s finance minister Pier Carlo Padoan said a solution on the two banks was close. (Reporting by Francesco Guarascio @fraguarascio; editing by Philip Blenkinsop)