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EU, ECB will not block Italy bank fund, economy minister says

Wednesday, April 13, 2016 - 13:58

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There is no risk that European authorities will block a bank fund set up by Italian financial institutions to shore up weaker lenders, Italy's economy minister Pier Carlo Padoan told financial daily Il Sole 24 Ore on Wednesday.

[MILAN] There is no risk that European authorities will block a bank fund set up by Italian financial institutions to shore up weaker lenders, Italy's economy minister Pier Carlo Padoan told financial daily Il Sole 24 Ore on Wednesday.

The minister also said the government would approve next week new measures to speed up bankruptcy procedures to help banks shed part of 200 billion euros in non-performing loans weighing on their balance sheets.

The treasury was weighing the possibility of further cutting its stake of 65 per cent in the national post office Poste Italiane, Mr Padoan added.

REUTERS

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