EU Commission will do everything to prevent bank run: EU's Juncker
Reuters
Published Jun 28, 2016 06:56PM ET
EU Commission will do everything to prevent bank run: EU's Juncker
BRUSSELS (Reuters) - The banking sector in Italy and elsewhere in Europe will be protected and the European Commission will do everything to prevent a bank run, EU Commission President Jean-Claude Juncker said after a meeting of European leaders in Brussels.
Rome is concerned that Italian banks, which are saddled with 360 billion euros ($400 billion) of bad loans, a third of the euro zone's total, risk attacks by hedge funds betting that Brexit turmoil could tip them into full-blown crisis.
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Written By: Reuters
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