Federal Reserve

EU and Italian government disagree on bailing out banks.

"Matteo Renzi, the Italian prime minister, is determined to intervene with public funds if necessary despite warnings from Brussels and Berlin over the need to respect rules that make creditors rather than taxpayers fund bank rescues, according to several officials and bankers familiar with their plans."

Of course he wants to protect the crony creditors and soak the taxpayers. This shows more division in the EU.