“In 2015 the Italian government rescued four small banks. In compliance with EU rules it put the burden of the rescue on bank creditors rather than taxpayers. As a result, 12,500 “small savers” lost a total of 430 million euros on junior bonds. That is an average of 34,500 euros lost per bondholder.” Italy on the Brink | Mises Wire

The Italian government is considering bailing out the banks in defiance of EU rules concerning “bail-ins.” These rules require that a bank’s creditors, especially bondholders, “take haircuts”