May 24, 2019 / 2:34 PM / 3 months ago

Italian government official says favours market solution for Carige aided by state

MILAN (Reuters) - A junior minister from Italy’s ruling 5-Star Movement said on Friday he favoured a market solution for troubled bank Carige, adding the government had to put in place the right conditions to ease it.

“The government should work to create right conditions for a market solution for Carige,” Cabinet Undersecretary for Regional Affairs Stefano Buffagni said on the sidelines of an event.

Deputy Prime Minister and League leader Matteo Salvini has said that his party was ready to back a state rescue of Carige in the absence of private investors willing to plug in a capital shortfall at the ailing bank.

Reporting by Elvira Pollina, writing by Giulio Piovaccari

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