The European Commission announced on Thursday the green light to Italy's request to be able to support solvent banks with public resources. The "shield" allows our country to provide guarantees of up to 150 billion against any bond issues that will be launched by credit institutions by the end of the year.
This was reported by the spokeswoman for the Antitrust which follows state aid, specifying that "Italy has notified this measure for precautionary reasons" and that to date "there is no expectation that the need to use it will emerge".
"The EU Commission -added the spokeswoman for the EU executive - is always ready to discuss with all the Member States, and monitors developments on the markets in Europe, including Italy". Moreover, Brussels is "regularly in contact with the Italian authorities".
At this point it is clear that the duel on the banks took place on Wednesday between Angela Merkel and Matteo Renzi it was more facade than substance. Basically, an agreement on Italian banks has never been ruled out in compliance with the rules, which the Renzi Government has never dreamed of violating but of applying in all its parts, including the exceptions to the bail-in in cases of possible financial emergency.
