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December 15, 2019 Free Council of Ministers, after about 90 minutes, the law decree to save Banca Popolare di Bari. It is learned from government sources.

The meeting was opened by Prime Minister Giuseppe Conte who illustrated the provision. After him the heads of delegation of the four majority parties took the floor.

According to a draft previously released, the decree provides for a loan to Invitalia "up to a total maximum amount of 900 million for 2020", to strengthen the assets of Mediocredito Centrale "so that this promotes, according to market logic, the development of activities financial and investment, also in support of businesses in the South, to be carried out also through the use of the acquisition of equity investments in banking and financial companies, and with a view to further possible rationalization of such investments ".

The establishment of an Investment Bank, which would arise from the 'split' of acquisitions made by Mediocredito Centrale, is envisaged by the first of the three articles of the decree. The training will pass through a decree with which the Ministry of Economy will acquire activities and participations, with the entire share capital, without having to pay any consideration. The operations will be carried out under a tax exemption regime.

The resources for the rescue of the bank come from the fund of the Ministry of Economy destined "to the participation in the capital of banks and international funds". The resources are "registered in chapter 7175 of the estimates of the Ministry of Economy and Finance", refinanced for 2020 "with Section II" of the budget law approved in 2018.

The provisions of the decree, also aimed at rescuing the Popolare di Bari, "can contribute to overcoming these structural obstacles and reduce the gap in economic development between the South and the regions of the Center-North". This is expressly indicated by the technical report of the decree which highlights the "excessively contained dimension" of the institutions of the south.

Furthermore, the government ensures responsibility towards the past top management of Popolare di Bari. And eventually there will be the commitment, by the executive, to any early retirement, should these become necessary in the business plan. This is what is learned from government sources.

Emiliano writes to Conte: Region ready for direct intervention
“The Puglia Region will protect shareholders, depositors, employees and creditors of the Banca Popolare di Bari with every means, who must regularly continue its activity of collecting savings and employment in support of companies and families in Puglia and Italy. To this end the Puglia Region is available - if the Government deems it necessary - also to a direct intervention in the capital of the structure that will have to conduct the rescue of the Bank ". This was declared by the president of the Puglia Region, Michele Emiliano, who announces that he has written a letter to the Prime Minister, Giuseppe Conte.