Sven Giegold

Letter to the European Commission on the compliance of the capital injection into Banca Carige with European State Aid rules

On 12 November 2018, the board of Italy’s interbank deposit guarantee fund (FITD) stated that it had agreed to support the issue of a subordinated convertible bond worth up to €400m as part of a turnaround plan to increase the capital of Banca Carige. According to Banca Carige, all main Italian banks have “voluntarily” guaranteed they would buy bonds worth €320m, with a further €80m to be bought by private investors.

Doubting the voluntariness of the contributions, we have asked the Commission to investigate the recent rescue of Banca Carige and its compliance with European State Aid rules.

Download here: Letter Sven GIEGOLD to COM on Banca Carige Nov 2018


Rubrik: Wirtschaft & Währung

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