Italy

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Italian Finance Minister Reassures Over Liquidity of Troubled Banks

Italy’s troubled mid-sized lenders Banca Popolare di Vicenza and Veneto Banca have “all the public guarantees necessary” to shore up their liquidity, Italy’s finance ministry said in a statement on Thursday. Pier Carlo Padoan, finance minister, made the ...

Daily Headline - global.abi.org - 05/25/2017 - 17:34 - 0 comments

Monte Paschi Bailout Plan Faces ECB Pushback on Capital Concerns

Italy’s plan for an 8.8 billion-euro ($9.8 billion) bailout of Banca Monte dei Paschi di Siena SpA faces resistance from the European Central Bank, which is concerned the lender may struggle to maintain capital buffers as it tries to get back on its feet ...

Daily Headline - global.abi.org - 05/21/2017 - 21:06 - 0 comments

Italy's Popolare Vicenza, Veneto Banca May Need Private Capital Before State Bailout

Italian regional lenders Popolare di Vicenza and Veneto Banca may need to raise capital privately to cover loan losses to win European Union approval for a state bailout they have requested, six sources familiar with the matter said on Wednesday. The two ...

Daily Headline - global.abi.org - 05/17/2017 - 23:03 - 0 comments

Air France-KLM Won't Save Alitalia, CEO Says

Air France-KLM has ruled out stepping in to save near-bankrupt Alitalia, with its chief executive telling shareholders on Tuesday that its past experience of cross-shareholdings and a failed merger plan would discourage it from investing directly in Ital ...

Daily Headline - global.abi.org - 05/16/2017 - 21:57 - 0 comments

Italian Stocks Defy Doomsayers, Outstripping Most of Europe

Since Emmanuel Macron’s victory in the French presidential election removed fears of a chaotic “Frexit”, many pessimists have turned to Italy as the next likely cause of problems for investors in Europe. So far, however, investors don’t seem to be listen ...

Daily Headline - global.abi.org - 05/16/2017 - 21:59 - 0 comments

Stricken Alitalia Debts Totaled $3.3 Billion At End Of February

Loss-making airline Alitalia, which asked to be put under special administration on Tuesday, had debts of around 3 billion euros ($3.3 billion) as of the end of February, Italy's government said on Saturday, Reuters reported. In a document marking t ...

Daily Headline - global.abi.org - 05/07/2017 - 22:21 - 0 comments

Flag Carrier Alitalia to Go on Sale in Two Weeks

Alitalia will be put up for sale starting in two weeks with the aim of finding a buyer for the entire airline to stave off liquidation, a senior Italian official said. A day after Alitalia collapsed into administration, Carlo Calenda, the economic develo ...

Daily Headline - global.abi.org - 05/03/2017 - 20:15 - 0 comments

Keeping Greece Afloat

In a year filled with European elections, no one wants another debt crisis—even if this requires pretending that Greek politicians will implement pro-growth reforms they’ve repeatedly shunned, The Wall Street Journal reported in a commentary. That’s ...

Daily Headline - global.abi.org - 05/03/2017 - 20:17 - 0 comments

Alitalia Files for Bankruptcy, but Italy Balks at a Third Bailout

When the Italian airline Alitalia went bankrupt in 2008, the government swooped in with taxpayer money and Pope Benedict — a regular rider — offered the carrier a blessing. Six years later, as Alitalia stumbled into debt yet again, the government enginee ...

Daily Headline - global.abi.org - 05/02/2017 - 22:13 - 0 comments

Veneto Banca Liquidates Wholesale Banking Arm in Ireland

Veneto Banca, the troubled Italian lender which is in the process of requesting state aid to secure its future, has liquidated its Irish wholesale banking operation, Veneto Ireland Financial Services, the Irish Times reported. The move comes as Dubli ...

Daily Headline - global.abi.org - 05/01/2017 - 21:11 - 0 comments

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