The European Commission's approval of a €17 billion aid package for an orderly wind-down of Italy's Veneto Banca and Banca Popolare di Vicenza, has sparked doubts about the strict application of banking resolution rules.
The European Commission is expected to fine Spain on Wednesday (26 July), but it will give two extra years to Madrid to adjust its budget - while the commissioners pledge a solution for Italian banks that will protect small investors.
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