ROME | Italian govt aids bank despite 5-Star anti-bailout rhetoric

8Jan - by Editor - 0 - In STL.News

ROME —January 08, 2019— Italy’s populist government has stepped in to help guarantee struggling Banca Carige SpA, bending to pressure to help the Italian bank despite the ruling 5-Star Movement’s longtime anti-bank bailout rhetoric.

The government passed a decree late Monday that guarantees future bond issues and foresees the possibility of a precautionary public recapitalization.

Premier Giuseppe Conte said the measures were aimed at protecting the “rights and interests” of ordinary Carige account-holders.

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