San Marino

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In the shadow of Italy's banking crisis, a much smaller financial emergency is unfolding in the tiny nation of San Marino, a wealthy enclave of 34,000 people perched on the picturesque slopes of the Apennines mountains, the International New York Times reported on a Reuters story. The central bank of San Marino, a former tax haven landlocked inside central Italy, plans to inject liquidity into its ailing lenders, a first step toward overhauling them and finding new equity capital, said a source close to the matter.
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Gruppo Delta's majority owner said Tuesday it is ready to look for another buyer for some of its assets it Intesa Sanpaolo SpA loses interest, Dow Jones Daily Bankruptcy Review reported. Consumer credit company Delta is under administration and the sale of part of its assets is part of an effort to rescue it. Business tabloid MF said earlier Tuesday that Intesa, Italy's biggest retail bank, had called off talks to buy the assets. Without citing its sources, MF said Intesa was concerned at possible legal risks it could incur if Delta were to go bankrupt.
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