Banks, in Brussels tug on state aid Opening the ECB – The Messenger

ROME “You can not circumvent the directive on banks and the rules on bail-in.” Apparently this statement might not sound much different from those spoken in Brussels in recent days about the possibility of finding a solution for Italian banks in the current legislation. But it is expressed in a negative form, and especially coming from someone who has the reputation of the hawk, the Dutch Finance Minister and Eurogroup President Jeroen Dijsselbloem, these words were enough to sow panic on the stock market, where only yesterday morning the MPS seemed to be no prospect of recovery. So at the end of the day, despite the ban on short selling imposed by Consob, the stock left on the ground another 5.8 percent, wiping out the recent gains and returning to historic lows at an altitude of 0,265 cents, with a capitalization of 777 million.
With a historical reconstruction that – paradoxically – in some way echoes that of the Prime Minister Renzi ( “Other countries have restructured their lenders before the new rules and Italy did not do it”), the Dutch Minister seems to want to exclude the possibility of a direct state intervention, intervention which legally could follow a negative outcome, for the Sienese school, the stress tests. Just Renzi will be able to address the issue with Angela Merkel today in Warsaw, during the NATO summit.

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 08/07/2016 00:10:10

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