May 18, 2017 / 6:12 AM / 4 months ago

BRIEF-EU's Vestager says rescue talks over Veneto banks not easy - paper

May 18 (Reuters) - EU Competition Commissioner Margrethe Vestager tells La Stampa daily in an interview:

* Rescue talks over Italy’s Popolare di Vicenza, Veneto Banca are not very advanced but we have agreed a plan of action with all parties involved

* We are moving ahead as everyone has a constructive approach but it’s not easy

* Making progress on Monte dei Paschi’s restructuring plan, there is a “good discussion” ongoing over how to ensure bank is profitable and we are working “very well” with Italian authorities.

* Cutting staff to reduce costs is inevitable, it is always “very, very painful” for people and communities involved Further company coverage: (Reporting by Milan Newsroom)

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