Spain's BBVA Bids 6.4 Bln Euros for Italy's BNL

The news is already coming out from Italy that this bid from a 'foreign' bank needs to be stopped.

The European Union needs to be aware that, when a European bank tries to buy the 5th or 6th bank in another European country and they meet local government resistance, that is a country without freedom of European movement.

This will be a classic case where the EU Commission needs to make its voice heard. It cannot be that this sort of deal does not go through.

OAM

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Spain's BBVA Bids 6.4 Bln Euros for Italy's BNL
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