Puede usar las teclas derecha/izquierda para votar el artículo.Votación:1 estrella2 estrellas3 estrellas4 estrellas5 estrellas (1 votos, promedio: 5.00 sobre 5)
LoadingLoading...

Economy

ROME INTERVENES URGENTLY IN THE “ORDERED LIQUIDATION” OF BANKS FROM VENETO

Rome / The Italian government approved the “orderly liquidation” of two banks in the rich Veneto region (in the north-east of the country), with a decree law that allows them to cede its healthy assets to Intesa Sanpaolo and it will facilitate these to continue its activity.

The branches of Banca Popolare di Vicenza and Veneto Banca may open after the approval of the decree by means of urgency, in an extraordinary meeting of the council of ministers, summoned to apply the instructions sent from the European institutions.

On Friday, The European Single Resolution Board had ordered to liquidate both entities after the European Central Bank (ECB) declared that these were failing or on their way to failing.

Intesa Sanpaolo, the first Italian banking group, will deal with the two entities liquidated administratively, confirmed the Prime Minister, Paolo Gentiloni, who stressed that this way will protect depositors and holders of senior obligations.

“This crisis has reached levels that have made this intervention necessary,” Gentiloni admitted in a press conference, in which he stressed that the decision was “very important and very urgent and necessary” and that this avoids a “messy bankruptcy”.

With the decree approved, “resources up to 17,000 million Euros” are mobilized, the Minister of Economy and Finance, Pier Carlo Padoan, who defended that the solution adopted was “the only alternative to the disorderly liquidation” of the two entities.

Padoan confirmed that there will be “no interruption of activity” of the two banks, facilitated by the intervention of Intesa Sanpaolo, who will participate in the operation by acquiring the healthy assets of the two entities.

Padoan said that Intesa will receive from the State 4,785 million Euros as a cash advance, destined to the “operations necessary to maintain the capitalization and the patrimonial reinforcement” of the entity against the purchase of the Venetian banks.

The operation will force to close around 600 branches (out of a total of more than 6 thousand that will add the network of the two Venetian banks plus that of Intesa Sanpaolo) and to reduce up to 4,000 jobs, out of more than one hundred thousand employees that happens to have the set of three banks, according to local media.

Throughout the weekend, criticism of the operation was not lacking both from the political opposition and from the Association for the Rights of Users and Consumers (ADUC), which considered that the two entities will be “given away” to Intesa Sanpaolo “for a euro”.

Although that amount was not mentioned by the largest bank in the country, it is true that Intesa Sanpaolo had indicated his intention to participate in the “certain assets and liabilities” of the Venetian banks in exchange for a “symbolic sum”.

Javier Alonso from EFE Agency reported from Rome. (EFE/Practica Español, June 26, 2017)

Exercise of comprehension B.2

Lee la noticia y responde las preguntas. (Read the news and answer the questions)

Congratulations - you have completed Lee la noticia y responde las preguntas. (Read the news and answer the questions). You scored %%SCORE%% out of %%TOTAL%%. Your performance has been rated as %%RATING%%
Your answers are highlighted below.
Question 1
La noticia trata...
A
de la inminente aprobación de un decreto ley en Italia.
B
del debate de una medida económica en el Parlamento italiano.
C
de la aprobación urgente de un decreto ley en Italia.
Question 2
En el texto se dice que...
A
el principal banco italiano se ha declarado en bancarrota.
B
unos bancos italianos serán adquiridos por el primer grupo bancario de Italia.
C
unos bancos italianos ya han sido adquiridos por el principal banco italiano.
Question 3
El Gobierno italiano siguió las instrucciones de unas instituciones de Europa.
A
No se sabe.
B
Falso.
C
Verdadero.
Question 4
Según el texto, esos bancos...
A
no corrían peligro de quebrar.
B
continúan siendo muy solventes.
C
estaban en una mala situación económica.
Question 5
Intensa Sanpaolo no recibirá dinero público durante esa operación.
A
No se sabe.
B
Falso.
C
Verdadero.
Question 6
La adquisición de esas entidades bancarias por Intensa Sanpaolo...
A
no pondrá en peligro ningún puesto de trabajo.
B
supondrá una reducción de la plantilla de esos bancos.
C
incrementará el número de sucursales bancarias de esos bancos.
Question 7
La oposición apoya incodicionalmente ese decreto aprobado por el Gobierno.
A
Verdadero.
B
No se sabe.
C
Falso.
Once you are finished, click the button below. Any items you have not completed will be marked incorrect. Get Results
There are 7 questions to complete.

Noticias al azar