Germany Just Blew Up Italy’s Bank Bailout Plan
by Tyler Durden
ZeroHedge.com
Jun 29, 2016
Germany opposes any attempt to shield private bank investors from losses if Italy pushes ahead with plans to recapitalize lenders. Merkel’s government says that European Union rules on handling struggling banks should apply in any rescue effort, including forcing losses on shareholders and some creditors before public money can be injected. The government in Berlin rejects the argument that the U.K. vote to leave the EU constitutes an “exceptional circumstance.”
The Rest…HERE
