October 5, 2016 / 8:11 AM / a year ago

Austria's finance minister wants swift solution for bad loans

VIENNA, Oct 5 (Reuters) - The high level of non-performing loans on the books of European banks continues to burden the EU’s financial system, Austria’s finance minister said on Wednesday.

Finding a solution for bad loans, a problem which is most concentrated in the euro zone in countries such as Italy, Portugal, Spain and Greece should not mean putting public money into the banking system, Hans Joerg Schelling said at a conference hosted by the Austrian financial regulator FMA.

Reporting by Kirsti Knolle; Editing by Keith Weir

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