Italian banks on brink of running DRY: Rome forced to bend EU rules in emergency bailout

‘Italy is plotting another multibillion rescue of its beleaguered banking system, as two struggling lenders come dangerously close to running out of money.
Rome wants to inject around £4.2billion (€5bn) into Veneto Banca and Banca Popolare di Vicenza, by bypassing European rules that ban taxpayers’ cash from being used to bailout banks.
The two banks are haemorrhaging cash at an alarming rate, according to the Financial Times, sending Italy into panic.
But the new so-called precautionary recapitalisation plan still needs approval from Brussels to go ahead.’
Read more: Italian banks on brink of running DRY: Rome forced to bend EU rules in emergency bailout