Good-bye or good buy?

摘要

If not them, then who? That's the question that investors in bank bonds will be asking if, as now seems increasingly likely, Italy is allowed to bail out Banca Popolare di Vicenza and Veneto Banca via what is being billed as a "precautionary recapitalistion". EU officials argue that it is legitimate to bail out the Italian duo, because they got into trouble before the introduction of Europe's so-called Bank Recovery and Resolution Directive.