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A Step Closer to Banking Union but... - Presented by: The Aol. On Network

Italy's biggest bank is getting smaller. UniCredit is cutting eight and a half thousand jobs after reporting a record 14 billion euro loss. It's all down to bad loans last year - and it's the sort of problem a European banking union is supposed to prevent. UniCredit is likely to be near the top of the regulators list of lenders in line for a health check later this year. European finance ministers say they've now agreed to strengthen a scheme to tackle problem banks.



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