Sven Giegold


Letter to Commissioner Margrethe Vestager: Bail-in of retail investors in Italy

On 24 April 2019, Italy adopted a decree putting into effect a public scheme automatically compensating shareholders of failed banks with financial assets up to 200,000 euros or annual income up to 35,000 euros, who would not need to demonstrate they were victims of mis-selling. The Italian government has set aside a compensation fund of […]


Background information on possible state aid for Italy’s banks

Since the Brexit vote, Italian banks’ shares have slumped dramatically: Italy’s third-biggest bank Monte dei Paschi di Siena has lost half its value. In response, big banks and the Italian government are suggesting to recapitalize the weakest banks with public money. But recapitalization has a price: under EU rules, bank bonds have to be written off […]