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Italy rescues 2 failing banks at taxpayers' cost

This file photo taken on July 17, 2016 shows the logo on a branch of the Intesa SanPaolo bank in Turin, in the Italian region of Piemonte. (Photo by AFP)

Max Civili
Press TV, Rome

Italy’s government has inked a controversial deal to wind up two failed regional banks. The agreement will see Italy's largest retail bank, Intesa Sanpaolo, taking over the remaining good assets of the collapsed banks and leaving Italian taxpayers to deal with leftover toxic assets. Max Civili reports.

 


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