Italy May Spur Pan-Europe Bank Crisis, SocGen Chairman Says

  • Rules on state aid to banks should be reviewed: Bini Smaghi
  • Says governments need to accept idea of taxpayer as backstop

Bini Smaghi: People Starting to Withdraw from the Market

Italy’s banking crisis could spread to the rest of Europe, and rules limiting state aid to lenders should be reconsidered to prevent greater upheaval, Societe Generale SA Chairman Lorenzo Bini Smaghi said.

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