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Italy says financial system solid as furore over banks' rescue grows

Authorities under fire after it emerged that ordinary Italians had been sold risky subordinated bonds

Mr Padoan said the government is doing everything in its powers to put the banks on the right path and to reinforce the banking system.


ECONOMY Minister Pier Carlo Padoan said on Tuesday that Italy's financial system remained solid as the government faced a mounting furore over the rescue of four banks that wiped out the savings of thousands of retail investors.

Italy saved Banca Marche, Banca Etruria,