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Report: Court ruling won't affect Italy bank rescue talks, says EU's Vestager

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Report: Court ruling won't affect Italy bank rescue talks, says EU's Vestager

Margrethe Vestager, the EU's competition commissioner, saida ruling on state-aid regulations by the European Court of Justice would notaffect ongoing negotiationsover the potential recapitalization of Italian banks, Reuters reported July 19.

The EU's highest court ruled the same day that an EU mandatethat investors absorb losses before a bank can receive state aid is "notcontrary to EU law," although it added that member states are not requiredto apply the rules.

Italian Prime Minister Matteo Renzi is looking for ways torecapitalize thecountry's banks while shielding some of their bondholders.