Could Fintech And Blockchain Help Italian Banks?

Italy is still in the grip of a nationwide economic crisis that began 10 years ago. The European Commission recently allowed Italy to pour $19.4 billion into liquidating two major Italian banks, Banca Popolare di Vicenza SpA and Veneto Banca SpA, Bloomberg reported. Meanwhile, the government moved to nationalize control of Monte dei Paschi bank, instigating a relaunch that throws out $32.5 billion worth of bad loans. "We are putting the worst behind us," Finance Minister Pier Carlo Padoan said Wednesday. But many of the problems that created this loan crisis are still in place, experts say.