The European Union has been urged by its Bulgarian presidency to ease proposed new regulations on foreign banks within the block to bring them in line with US requirements, EU documents showed yesterday (22 February).
Amid persistent doubts over some pockets of the banking system, European Commission Vice-President Valdis Dombrovskis, urged reluctant member states to accept the EU proposal to set up a common deposit guarantee scheme.
After a turbulent first month in office, Prime Minister Paolo Gentiloni could learn this week how much longer his government might last when the constitutional court reviews the validity of Italy's election law.
The head of Germany's Ifo economic institute believes Italians will eventually want to quit the euro currency area if their standard of living does not improve, he told German daily Tagesspiegel (1 January).
The Italian government approved a decree early on Friday (23 December) that will open the way for the rescue of Monte dei Paschi di Siena after the world's oldest bank failed to win backing from investors for a vital capital increase.
Italy's government is ready to pump €15 billion into Monte dei Paschi di Siena and other ailing banks, sources said, as the country's third-largest lender pushes ahead with a private rescue plan that is widely expected to fail.
Italy's banking problems can be solved and the EU will do everything to help, European Commission chief Jean-Claude Juncker said yesterday (14 December), dismissing fears of something akin to the euro crisis.