San Marino blocks bank sale, looks to quell instability
Central bank says financial system is “solid and resilient”
The Central Bank of the Republic of San Marino has pushed back against news of chaos in the territory’s financial system and blocked the sale of a commercial bank.
The central bank published an initial press release on October 22 about the soundness of the country’s financial system. This was followed by a second announcement on October 24 that it would not let foreign investors purchase one of the four Sammarinese commercial banks.
The first press release followed a call on October 22 from
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