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Renzi (l) is in talks with the EU Commission on his bank bailout scheme (Photo: Italian PM office)

Court ruling puts Renzi bank plan in doubt

An EU court ruling on bank bailouts has raised the likelihood of a political embarrassment for Italian leader Matteo Renzi, with the PM’s future and Italy’s eurozone membership on the line in an October referendum.

The European Court of Justice (ECJ) said on Tuesday (19 July) that Slovenia acted within EU law when it imposed a haircut of some €600 million on private-sector creditors as part of its bank rescue package in 2013.

It also ruled that the European Commission was within...

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Author Bio

Andrew Rettman is EUobserver's Foreign Affairs Editor. He has been writing about foreign and security affairs for EUobserver since 2005. He is Polish but grew up in the UK. He has also written for The Guardian, The Telegraph, and The Times of London.

Renzi (l) is in talks with the EU Commission on his bank bailout scheme (Photo: Italian PM office)

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Author Bio

Andrew Rettman is EUobserver's Foreign Affairs Editor. He has been writing about foreign and security affairs for EUobserver since 2005. He is Polish but grew up in the UK. He has also written for The Guardian, The Telegraph, and The Times of London.

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