Economic news

Review: Some euro zone banks may be closed

Some euro area banks may be closed if they become unsustainable, the European Central Bank's official said on Thursday, as the Italian government attempts to rescue two regional creditors.

Daniele Nouy, the head of the ECB's supervisory arm, informed the European Parliament that there were too many banks in the euro area.

As the euro zone's regulator, the ECB must decide whether the Banca Popolare di Vicenza and Veneto Banca are solvent and how much funds it is necessary to provide them, as it did earlier with the larger Italian bank Monte Paschi.

To leave a comment you must or Join us

More news

Back to economic news list

By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree