All the day’s economic and financial news, as Italy sets aside €17bn of taxpayers’ money to wind down two Veneto lenders * Latest: German MEP says taxpayers shouldn’t be paying * Veneto Banca and Banca Popolare di Vicenza are being wound down * Good assets are being sold to rival bank Intesa * Almost 4,000 jobs may be lost, and 600 branches closed * Intesa gets €5bn to make deal fly * Full story: Italy to wind up two failing banks at potential cost of €17bn 9.19am BST NEWSFLASH: MORALE AMONG GERMANY’S BUSINESS LEADERS HAS HIT A RECORD HIGH. The German business confidence index, produced by the IFO economic institute, has jumped to 115.1 this month, beating expectations. Breaking! #Germany's #Ifo index hits record high in June. pic.twitter.com/Q1T26PHZGk When even sky is no longer the limit...#German Ifo index reaches another all-time high in June. #German #Ifo #business climate index up to new record high in June as views of current situation & outlook improve further 8.58am BST BREAKING AWAY FROM ITALY, MUNICIPAL REFUGE WORKERS IN GREECE HAVE UPPED THE ANTE IN THEIR ONGOING CLASH WITH THE ATHENS GOVENMENT THAT HAS LEFT THE STREETS COVERED IN UNCOLLECTED TRASH. An air of early summer crisis has symbolically imbued the ever-greater mounds of rubbish piling up around Greece. In a bid to break the impasse the interior minister Panos Skourletis announced, after a crisis meeting late Friday, that the leftist-led government would rush an amendment through parliament today effectively prolonging short-term contracts on the brink of expiry and opening the way for permanent jobs later this year. Continue reading...
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