Italy's Bank Plan: Atlas Fudged
It's unclear the fund is big enough or legal under EU rules
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How do you solve a 360 billion-euro ($411 billion) problem with 5 billion euros? With great difficulty.
Italy's banks are groaning under the weight of 360 billion euros of souring loans, an encumbrance that's curbed lending (and economic growth) and left investors fretting about lenders' financial health.