Italian bonds bounce as Veneto, Vicenza enter liquidation

tostphoto - Fotolia

European authorities have determined that the long struggling regional Italian lenders Banca Popolare di Vicenza and Veneto Banca will be liquidated under national legal proceedings and their good parts will be sold to Intesa Sanpaolo. Italian bank bonds rallied on details of the plan, which involves burden sharing and nearly €17bn of state aid measures.