October 3, 2016 / 4:26 PM / 10 months ago

RPT-Italy economy minister sees no need for state intervention in banks

1 Min Read

(Repeats Oct 3 story with no change to text)

MILAN, Oct 3 (Reuters) - Italy's Economy Minister Pier Carlo Padoan said on Monday he did not see the need for state intervention in Italian banks.

Troubled Italian lender Banca Monte dei Paschi di Siena has agreed a new restructuring plan based on a 5 billion-euro ($5.61 billion) capital boost and the sale of 28 billion euros worth of bad loans.

But there is growing concern it may have to turn to the government for support.

Speaking in a public interview, Padoan said he did not see any alternative rescue plans for Monte dei Paschi.

"At this moment the bank is preparing an overall plan that I think is a good one," he said.

The minister also said that if a lender like Deutsche Bank had problems, the impact would be felt on European and global systems. ($1 = 0.8918 euros) (Reporting by Elvira Pollina, writing by Stephen Jewkes; editing by Agnieszka Flak)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below