Watch out for the bail-in that will start in January 2016 and that will put a strain on the weaker banks: this is why the president of the Veneto Banca Shareholders' Association, Giovanni Schiavon, he wrote to the shareholders, warning the top management of the Montebelluna bank that small savers and shareholders want to count more.
The banking world "is in great turmoil" - writes Schiavon - both due to the burden of non-performing loans which in Italy now amount to 183 billion euros and due to the new regulation envisaged by the European banking union and of which the second of the three is in sight pillars, the one on crisis management after the one on European supervision.
“A new rule – Schiavon explains to the shareholders – is that from 2016 January XNUMX the rescue of the banks will have to be done by the shareholders, the bondholders and also by the depositors and no longer by the State. In summary, from the external “bail-out” save we will switch to the internal save “bail in” with the consequence that the banks in crisis will have to be rehabilitated mainly by the internal figures indicated above".
It will therefore be up to "private creditors to respond (obviously in an economic sense) to the crises of the banks and no longer to taxpayers". All of this will also concern Veneto Banca, above all in view of possible capital strengthening.
This is why the members of the Veneto Banca Shareholders' Association are asking to weigh more in the management of the bank of Montebelluna and "therefore claim to increase all the possibilities for immediate and direct control".
