Italy winds up two banks for $19 bn in biggest rescue plan
Italy has decided to wind up two failing regional banks at a cost of up to $19 billion in its biggest rescue plan. The "good" assets of the two lenders will be purchased by the country's largest retail bank Intesa Sanpaolo for â¬1 (â¹72). Last year, Italy had set-up a $22 billion fund to support its struggling banking sector.