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Despite election promises: the Italian government helps crisis Bank

The Italian government to the embattled money-house, Banca Carige, with the guarantees and bonds to help. Thus, the populist Alliance is breaking the promises of their own choice.

the Italy of the ailing Banca Carige jumps to the side. The Cabinet of Ministers adopted a decree, according to which the state assumes guarantees for new bonds of the Institute. In addition, the state guarantees for funds, could absorb the Carige at the Italian Central Bank.

The possibility to issue government-guaranteed bonds wants to use Carige now as soon as possible, said the Institute. If necessary, you can apply for the money the house is now a state cash injection to a precautionary recapitalisation of the Bank. However, it is very unlikely that you'll fall back on it.

"In the interest of the savers"

Fümf-star-party chief Di Maio had previously rejected the state's support of bankrupt banks vehemently.

of the measure is to protect the "rights and interests of savers," said the head of government, Giuseppe Conte, according to the memo. The mitregierende Five-star movement makes a u-turn in terms of the Bank rescue. The party had always spoken out against public money for ailing banks. In October, the party leader Luigi Di Maio said that "no dollars" of public money would be used for the support of banks.

criticism of EU-MEP

"The idea of the banking Union was that of the taxpayer from the liability. This does not mean that illiquid banks are fed up with government guarantees, but are handled," said the CSU MEP Markus Ferber. The EU Commission should examine the case closely:

The CSU MEP Ferber calls for a detailed Review of the announced aid.

"It is very surprising that the proposal by the Northern League and the Five star movement carried Italian government is seeking exactly those measures to support ailing banks, which have criticised their representatives previously for many years. Salvini and Di Maio measure here, obviously with double standards."

Still no assessment by the EU-Commission

The EU Commission adopted the decree of the Italian government is now "aware", a spokesman said. The authority is with the Italian government in contact, in order to clarify which instruments in the framework of the EU-the Right to be available.

For 2016, and will apply in Europe for a common set of rules for the rehabilitation and - in the extreme case, closure of banks. Billions in taxpayers ' money for the crisis-banks should be avoided as much as possible.

Carige is under forced administration

The European Central Bank (ECB) had provided the Institute with headquarters in Genoa last week, under forced administration. Before a planned capital increase had failed at the resistance of a major shareholder, and as a result the majority of the Board of Directors resigned. During the recent stress test of the ECB in November, the capital buffer, the Banca were Carige according to media reports, in the crisis scenarios of contracted supervisors.

the Monte dei Paschi: the ECB gives the green light for the rescue, 29.11.2016 Italy: banks come under pressure, 29.05.2018 results of the Bank stress will be presented tests. 02.11.2018 Atlas |Italy |Rome

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