July 19, 2016 / 11:17 AM / 3 years ago

Court ruling on bail in has no impact on Italy talks - EU Commission

BRUSSELS, July 19 (Reuters) - The European Union’s Competition Commissioner said a ruling by the EU’s highest court on Tuesday has no impact on ongoing talks with Italy on a bank rescue plan.

The European Court of Justice ruled on Tuesday that junior creditors and investors need not necessarily suffer losses before a bank is rescued, a judgment that may work in Italy’s favour as it seeks to bail out its banks without affecting investors.

Asked whether the ruling may have an impact on the talks, commissioner Margrethe Vestager said: “No”. (Reporting by Francesco Guarascio; Editing by Alissa de Carbonnel)

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