Italy Seeks "Last Resort" Bailout Fund To "Ringfence" Troubled Banks, Meeting Monday
Submitted by Mike "Mish" Shedlock of Mishtalk
Italy Seeks “Last Resort” Bailout Fund to “Ringfence” Troubled Banks, Meeting Monday; Italy vs. Austria
Italy’s finance minister, Pier Carlo Padoan, wants to "ringfence" its troubled banks.
Padoan called for a meeting of executive of the troubled banks in Rome on Monday. The banks allegedly will come up with a “Last Resort” bailout fund.
Last resort or first resort, is there a difference at this point in time?