Insights
Attorney Authored
Italy Converts into Law an Emergency Decree Aimed at Rescuing Troubled Banks
August 04, 2017
By Patrizio Braccioni, Marc-Alexandre Courtejoie, Bruno Cova, Fabio Cozzi, and Eriprando Guerritore
The authors of this article describe the measures in Italy’s new banking law, which are intended to address possible emergency situations in the banking sector.
After months of drama prompted by the intertwined destinies of a constitutional referendum and the recapitalization of Monte dei Paschi di Siena (“MPS”), Italy’s third largest bank, and following the resignation of the Renzi government, the first important measure approved by the new Italian cabinet was an emergency decree aimed at safeguarding the Italian banking sector.