italian regulator Consob

The ECB intervened in the Italian Banca Carige, as expected

As Expected, The ECB Intervened In The Italian Banca Carige

The European Central Bank yesterday named three temporary administrators, as well a three member vigilance commission, to take control of Italy´s 10th bank and replace its leadership, following the resignation of the majority of its board members. Even tough Pietro Modiano, one of the three temporary administrators  declared that there was no merger on the horizon for the bank, they will likely try to find another bank in which they can integrate it.