BlackRock backs out of Carige recap, raising bailout fears

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BlackRock backs out of Carige recap, raising bailout fears

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E9B069 Night scene, Banca Carige bank, Piazza de Ferrari, Genoa, Liguria, Italy | Alamy Stock Photo

US fund manager BlackRock has pulled the plug on a rescue deal for ailing Italian bank Carige, setting the stage for a difficult political argument over whether to approve yet another costly government bailout.

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