ECB gives green light to Italian recapitalisation law
ECB raises no objection to decree but other obstacles may remain
The European Central Bank (ECB) has issued an official opinion raising no objections to an Italian "decree law" that allows the emergency recapitalisation of the country's banks.
The law would be used in the first place to recapitalise Banca Monte Paschi di Siena (MPS) the ECB noted, but could be used to aid other banks.
If the law is ratified by parliament, it will authorise the finance minister to carry out a "precautionary recapitalisation" of a bank until December 31, 2017. Such a
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