Banks, Renzi: “refund up to 80% for citizens with incomes below € 35,000″ – The Messenger

“We got that there might be a flat-rate rebate of up to 80%, without arbitration, provided to one of two conditions: a very low gross income under 35,000 Euros, or assets securities under 100,000 Euros. ” This was stated by Chairman of the Board, Matteo Renzi, at the end of the CDM talking of compensation to bondholders of the 4 banks saved.

The flat-rate reimbursement of the bondholders of the four banks, said Renzi, “it applies to all those who bought “obligations” by the date of 12 June 2014. they remain off only 158 people who bought on the secondary electronic market at discounted prices. Define scammed is a little difficult, but they will have the possibility to resort to arbitration. “

The story of the four banks saved by the government” was deliberately and instrumentally told different from reality. We intervened saving depositors who would have gone belly up, and there was no favorable element for the manager or the structure of banks that have been put in the resolution. Citizens have saved their money, there are penalties for managers and the commissioners. The truth, net of propaganda is that our attitude has been very strict and serious, said Renzi yet.

The Decree Law on Banks is composed of “three Parties’, refunds, recovery receivables and Dta and the solidarity fund for the conversion of banking personnel, and aims to “solve the problems of the banking world permanently in our country,” continued the Prime Minister.

government approved measures to reduce recovery time credits “for legal entities, not physical, from 6-8 years to 6-8 months,” he then said the prime minister, who then concluded, speaking of the new measures for the recovery credits and specifying that the pledge is not automatic but will serve the signature of the parties: “the securities pledge not possessory concerns not only the building, the capannoncino, but also stocks. We try to shake up the economy. ” “If I were one of those who had the money,” the four banks saved by the state, “I would go to embrace Padoan. Then for charity can make arbitration if they can prove “that they had been cheated.

Padoan: ” automatic reimbursement for half of savers. “ the Economy Minister Pier Carlo Padoan said that the ‘amount of the fund for redemptions” depend on the actual implementation, not only of those seeking automatic refund but also the outcome of the arbitration process. ” What is certain is that “the resources to cover the automatic reimbursement and arbitration will not be rationed, there is a risk that at some point someone comes and does not find the money.”

to be eligible for automatic refunds will be “a little more than half” of the approximately 10,000 bondholders affected by the crack of the 4 banks saved on November 22, said Padoan, though inviting to “be careful.” “They are estimates that must be verified, depend on the thresholds, we are doing the counts,” he added.