EC must address concerns over state aid – ECB’s Angeloni
ECB supervisor says Italian aid to Intesa raises serious questions
The decision this week by the European Commission (EC) and Italian regulators to allow state aid to an Italian bank raised serious questions, Ignazio Angeloni, a senior supervisor from the European Central Bank (ECB), told the Italian senate on June 28.
Veneto Banca and Banca Popolare di Vicenza (BPVI) were put into liquidation and sold to the large bank Intesa on June 26. Intesa was granted aid by the Italian state with a maximum value of €17 billion ($19.4 billion). The aid comprises a direct
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