Bondholders: Rescue Package and Italian Government

bondholders: The deed will probably be done by Christmas, with losses imposed on junior bondholders, according to The Guardian. It is tempting to think this outcome was inevitable. The Italian government on Wednesday granted itself the funds for a rescue package. The crisis at Italy's third-largest lender has bubbled away for most of 2016 and the bank has a long and grim record of disappointing its backers. But, turn the clock back just a few months, and there were realistic hopes that recapitalisation by the private sector would succeed. Over the past five years, it has raised 8bn in capital but churned out losses of 15bn. (news.financializer.com). As reported in the news.