On Friday 18 January, the European Commission approved an Italian public support measure for Cassa di Risparmio di Genova e Imperia (Banca Carige).
This measure will take the form of a state guarantee on securities issued by the banking institution for a total of €3 billion. In exchange for this state guarantee, Banca Carige will pay a fee to the Italian government.
Considering that this measure was targeted, proportionate and limited in time and scope, the Commission concluded...