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Fund to compensate Veneto bank savers mooted (2)

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11/11/2017 | 12:47am CET

(ANSA) - Rome, November 10 - A fund to compensate shareholders bilked in the failure of two bailed-out Veneto banks, Veneto Banca and Banca Popolare di Vicenza, was proposed in a bipartisan parliamentary motion Friday. Bank of Italy oversight chief Carmelo Barbagallo told a parliamentary commission on the banks crisis last week that inadequate management, not poor surveillance, was to blame for the failure of the two banks. In July the Senate on Thursday gave final approval to the government's decree to rescue the two medium-sized Veneto lenders.

(c) 2017 ANSA Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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