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.
European lawmakers plan to water down a European Commission plan to guarantee bank deposits, according to a draft report seen by Reuters, throwing up another hurdle to regulators' plan to boost savers' confidence and the financial sector.
International Monetary Fund officials sought to play down the risk of an imminent crisis over Deutsche Bank yesterday (5 October) and expressed confidence that German and European authorities were working to ensure stability.
The main trade union of EU civil servants has added its voice to the chorus of politicians demanding that the European Commission take an "appropriate decision" on José Manuel Barroso's new position at Goldman Sachs. EURACTIV France reports.
Italian Prime Minister Matteo Renzi was trounced by the anti-establishment Five Star Movement in local elections in Rome and Turin on Sunday (19 June), clouding his chances of winning a do-or-die referendum in October.
The looming banking crisis in Italy spells trouble not just for Europe’s fourth largest economy, but also for the EU and an already sputtering global economy, writes Jacob Shapiro for Geopolitical Futures .