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Italy prepares to defense the banks from Brexit fallout

Italy is scheming to strengthen a banks from a destabilising share sell-off following final week’s Brexit vote, sources told Reuters Monday.

Shares in Italy’s dual biggest banks, UniCredit and Intesa Sanpaolo, fell by 8 percent and some-more than 10 percent respectively on Monday, in a arise of some-more than 20 percent falls on Friday after Britain voted to quit a EU.

A supervision source pronounced Prime Minister Matteo Renzi would ask German Chancellor Angela Merkel to behind some-more coherence from a EU per Italy’s open spending and manners on state assist for banks during a assembly in Berlin on Monday.






Article source: http://www.dailystar.com.lb//Business/International/2016/Jun-27/359304-italy-prepares-to-shield-its-banks-from-brexit-fallout.ashx