Italy to bail out two more banks after ECB warning

Italy’s government will be bailing out Banca Popolare di Vicenza and Veneto Banca at a cost of EUR 5.2 billion. The banks' "good" assets will be taken on by the Intesa Sanpaolo banking group.

The move comes two days after the European Central Bank (ECB) warned that the two banks were failing or likely to fail.