EU Commission: Taxpayers should no longer be liable for bankrupt banks – Economy

It is time again these days to commemorate the two Italian money houses Veneto Banca and Banca Popolare di Vicenza. Comparatively small institutes from the region around Venice, known abroad at most to vacationers, just about in the top 15 in the ranking of Italian banks. It will soon be six years since the European Central Bank went bankrupt exclaimed – in the end, however, did not intervene. Instead of applying the new EU rules on bank resolution, the supervisors left it to the Italian authorities to take care of the ailing institutions. With the result that the taxpayers had to be held liable again, with up to 17 billion euros.