March 5, 2019 / 9:17 AM / 5 months ago

Italy reached accord with EU over 'GACS' state guarantee renewal - source

ROME, March 5 (Reuters) - Italy has reached a de facto accord with the European Commission to renew a state guarantee scheme aimed at easing sales of bad bank loans, a source with direct knowledge of the matter said on Tuesday.

The scheme currently in place, dubbed ‘GACS’, is due to expire on March 6. The government had been negotiating a renewal of the scheme with European competition authorities to ensure it would not violate state aid rules.

Reporting by Giuseppe Fonte, editing by Silvia Aloisi

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