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Where Does Italy’s Bank Recapitalization Stand?

Setser, Brad W., Smith, Emma, (2017), «Where Does Italy’s Bank Recapitalization Stand?», Council for Foreign Relations, 21 Ιουνίου

Italy is now willing to use the public sector’s balance sheet for recapitalization, which has allowed a bit of forward movement. But public injections of capital need to be consistent with European banking union and state aid rules. Europe seems to have created binding rules that limit national sovereignty (though probably only to some degree) before it created well-funded European institutions for sharing the fiscal risk associated with public injections of capital and deposit insurance.

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