So the politicians did what they could. Unfortunately, the solution that they have designed is not the right one. The government has strong-armed the banks into setting up a fund — called Atlas — that will act as a backstop for banks that are trying to raise capital and cannot find buyers for their new share issues. If there is any money left over, the fund will invest in the banks’ non-performing loans. Contributions to Atlas will come mainly from Italy’s biggest banks, insurers and pension funds.